Legacy Private Trust Co. Reduces Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Legacy Private Trust Co. lowered its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 52.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,105 shares of the semiconductor manufacturer's stock after selling 2,324 shares during the quarter. Legacy Private Trust Co.'s holdings in Advanced Micro Devices were worth $216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Advanced Micro Devices during the 4th quarter worth $2,867,193,000. Toronto Dominion Bank raised its position in Advanced Micro Devices by 443.3% in the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock valued at $660,475,000 after purchasing an additional 4,461,609 shares during the period. Kovitz Investment Group Partners LLC increased its position in shares of Advanced Micro Devices by 2,265.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer's stock worth $364,459,000 after acquiring an additional 2,889,739 shares during the period. Northern Trust Corp increased its holdings in Advanced Micro Devices by 20.1% in the fourth quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer's stock valued at $2,072,215,000 after buying an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Advanced Micro Devices by 23.3% during the fourth quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer's stock worth $1,432,538,000 after purchasing an additional 2,238,866 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company's stock.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the transaction, the executive vice president now owns 1,713,710 shares of the company's stock, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Hsbc Global Res upgraded shares of Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 27th. KeyCorp downgraded shares of Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. Morgan Stanley dropped their target price on shares of Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Barclays boosted their price objective on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Finally, Piper Sandler reaffirmed 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. Fifteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $132.58.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded up $2.55 during mid-day trading on Tuesday, reaching $117.18. The company had a trading volume of 17,272,245 shares, compared to its average volume of 41,758,672. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a 50 day moving average of $100.34 and a 200-day moving average of $112.37. The firm has a market cap of $190.00 billion, a price-to-earnings ratio of 118.36, a PEG ratio of 1.11 and a beta of 1.97.

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

Advanced Micro Devices announced that its board has authorized a share repurchase plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in shares. This buyback authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

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.