Hemenway Trust Co LLC Grows Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Hemenway Trust Co LLC increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 262,889 shares of the semiconductor manufacturer's stock after buying an additional 6,283 shares during the quarter. Advanced Micro Devices comprises 2.2% of Hemenway Trust Co LLC's investment portfolio, making the stock its 21st biggest holding. Hemenway Trust Co LLC's holdings in Advanced Micro Devices were worth $27,009,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AMD. Norges Bank purchased a new position in Advanced Micro Devices during the 4th quarter worth approximately $2,867,193,000. Toronto Dominion Bank grew its stake in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after buying an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after buying an additional 2,889,739 shares during the last quarter. Northern Trust Corp grew its stake in Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock worth $2,072,215,000 after buying an additional 2,874,012 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Advanced Micro Devices by 12,097.8% during the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer's stock worth $206,402,000 after buying an additional 1,992,508 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $127.10 on Wednesday. The stock has a fifty day moving average price of $106.08 and a 200 day moving average price of $111.19. The stock has a market cap of $206.08 billion, a PE ratio of 93.46, a P/E/G ratio of 1.61 and a beta of 1.99. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. Sell-side analysts forecast 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 authorized a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

AMD has been the topic of a number of research reports. DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price target on the stock in a research note on Thursday, May 8th. Sanford C. Bernstein dropped their price target on Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Dbs Bank cut Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Advanced Micro Devices in a research report on Monday, June 9th. Finally, Evercore ISI set a $144.00 price objective on Advanced Micro Devices and gave the stock an "outperform" rating in a research report on Friday, June 13th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average target price of $134.61.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at approximately $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 accessible through this link. 0.06% of the stock is currently owned by insiders.

About Advanced Micro Devices

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.

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