Fifth Third Bancorp Has $37.77 Million Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Fifth Third Bancorp lessened its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 17.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 367,582 shares of the semiconductor manufacturer's stock after selling 77,958 shares during the period. Fifth Third Bancorp's holdings in Advanced Micro Devices were worth $37,765,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. purchased a new stake in Advanced Micro Devices in the 4th quarter valued at approximately $25,000. Greenline Partners LLC acquired a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Advanced Micro Devices during the 4th quarter valued at approximately $29,000. Kozak & Associates Inc. grew its position in shares of Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after acquiring an additional 123 shares in the last quarter. Finally, Mpwm Advisory Solutions LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the sale, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on AMD shares. UBS Group cut their target price on Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler reissued an "overweight" rating and set a $125.00 price objective (down previously from $140.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Robert W. Baird reduced their price target on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and set a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Finally, TD Cowen lifted their price objective on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Fifteen analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and an average target price of $134.13.

Advanced Micro Devices Price Performance

Shares of AMD traded down $2.34 during trading hours on Friday, hitting $116.16. 39,620,655 shares of the company were exchanged, compared to its average volume of 41,413,918. The company has a market cap of $188.34 billion, a price-to-earnings ratio of 117.33, a P/E/G ratio of 1.11 and a beta of 1.99. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average is $104.51 and its 200 day moving average is $111.15.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Advanced Micro Devices's quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.62 EPS. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has approved a stock repurchase plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's management believes its shares are undervalued.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.