M&T Bank Corp Sells 26,626 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

M&T Bank Corp lessened its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 22.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,052 shares of the semiconductor manufacturer's stock after selling 26,626 shares during the period. M&T Bank Corp's holdings in Advanced Micro Devices were worth $9,458,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in shares of Advanced Micro Devices by 178.2% during the fourth quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after purchasing an additional 29,438 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Advanced Micro Devices by 2.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock valued at $1,001,000 after purchasing an additional 234 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Advanced Micro Devices by 12.7% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock valued at $31,958,000 after purchasing an additional 29,825 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Advanced Micro Devices by 36.9% during the fourth quarter. Proficio Capital Partners LLC now owns 4,880 shares of the semiconductor manufacturer's stock valued at $589,000 after purchasing an additional 1,315 shares during the last quarter. Finally, NBT Bank N A NY lifted its holdings in shares of Advanced Micro Devices by 8.8% during the fourth quarter. NBT Bank N A NY now owns 2,038 shares of the semiconductor manufacturer's stock valued at $246,000 after purchasing an additional 165 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Analyst Upgrades and Downgrades

AMD has been the subject of several analyst reports. Wells Fargo & Company reduced their target price on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Evercore ISI set a $144.00 target price on Advanced Micro Devices and gave the company an "outperform" rating in a report on Friday, June 13th. KeyCorp lowered Advanced Micro Devices from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, April 8th. Citigroup upped their price target on Advanced Micro Devices from $120.00 to $145.00 and gave the company a "neutral" rating in a research report on Monday, July 7th. Finally, Roth Capital set a $150.00 price target on Advanced Micro Devices and gave the company a "buy" rating in a research report on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-three have assigned a buy rating and five have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $147.00.

Insiders Place Their Bets

In related 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 sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock traded up $2.26 during midday trading on Friday, hitting $146.42. 49,944,990 shares of the company were exchanged, compared to its average volume of 41,762,072. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The firm has a market cap of $237.41 billion, a P/E ratio of 107.66, a PEG ratio of 1.86 and a beta of 2.05. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $186.99. The firm has a 50 day simple moving average of $122.16 and a 200-day simple moving average of $112.20.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted 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 business had revenue of $7.44 billion during the quarter, compared to the consensus estimate 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 quarter last year, the company earned $0.62 EPS. Research 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 has approved a stock buyback plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

Advanced Micro Devices 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.