Washington Trust Bank Purchases 32,289 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Washington Trust Bank lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 22.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 173,054 shares of the semiconductor manufacturer's stock after purchasing an additional 32,289 shares during the quarter. Advanced Micro Devices makes up about 1.8% of Washington Trust Bank's holdings, making the stock its 15th biggest position. Washington Trust Bank's holdings in Advanced Micro Devices were worth $17,780,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Greenline Partners LLC acquired a new stake in Advanced Micro Devices in the 4th quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Advanced Micro Devices by 277.8% in the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 200 shares during the last quarter. American Capital Advisory LLC lifted its stake in shares of Advanced Micro Devices by 90.3% in the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 130 shares during the last quarter. Kozak & Associates Inc. lifted its stake in shares of Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after buying an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter worth $30,000. Institutional investors and hedge funds own 71.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AMD. Roth Capital set a $150.00 target price on shares of Advanced Micro Devices and gave the company a "buy" rating in a research note on Friday, June 13th. Sanford C. Bernstein restated a "reduce" rating on shares of Advanced Micro Devices in a research note on Tuesday, July 1st. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, June 13th. Barclays upped their target price on shares of Advanced Micro Devices from $110.00 to $130.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Finally, Jefferies Financial Group lowered shares of Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their price objective for the company from $135.00 to $120.00 in a report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $139.55.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Stock Up 2.2%

AMD stock traded up $3.02 during mid-day trading on Tuesday, hitting $137.82. 36,030,413 shares of the company were exchanged, compared to its average volume of 41,940,823. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.97 and a current ratio of 2.80. The firm has a market cap of $223.46 billion, a P/E ratio of 46.16, a P/E/G ratio of 1.74 and a beta of 2.05. The firm's 50 day simple moving average is $118.61 and its 200 day simple moving average is $111.56. 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 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 8.03% and a return on equity of 8.30%. 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 predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership 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.