First Citizens Bank & Trust Co. Purchases 24,351 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

First Citizens Bank & Trust Co. lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 132.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,769 shares of the semiconductor manufacturer's stock after purchasing an additional 24,351 shares during the period. First Citizens Bank & Trust Co.'s holdings in Advanced Micro Devices were worth $4,394,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Bear Mountain Capital Inc. bought a new stake in Advanced Micro Devices during the fourth quarter valued at $25,000. Greenline Partners LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $29,000. Mpwm Advisory Solutions LLC bought a new stake in Advanced Micro Devices in the fourth quarter worth approximately $30,000. Finally, Summit Securities Group LLC acquired a new position in shares of Advanced Micro Devices during the 4th quarter valued at $31,000. Institutional investors own 71.34% of the company's stock.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction on 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 completion of the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

AMD has been the subject of several research reports. UBS Group reduced their price target on shares of Advanced Micro Devices from $155.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. KeyCorp lowered shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday. Bank of America boosted their price target on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Finally, Mizuho upped their price target on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Fifteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $133.81.

Advanced Micro Devices Stock Down 1.3%

Advanced Micro Devices stock traded down $1.51 on Friday, hitting $116.99. 13,436,343 shares of the stock traded hands, compared to its average volume of 41,300,297. The business's fifty day simple moving average is $103.76 and its 200 day simple moving average is $111.65. The firm has a market cap of $189.69 billion, a P/E ratio of 118.55, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the firm earned $0.62 earnings per share. The business's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is 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.