Advanced Micro Devices, Inc. (NASDAQ:AMD) Shares Bought by Washington Trust Bank

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

Several other hedge funds and other institutional investors have also bought and sold shares of AMD. KLP Kapitalforvaltning AS purchased a new position in Advanced Micro Devices in the 4th quarter worth $65,897,000. Vanguard Group Inc. raised its stake in Advanced Micro Devices by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer's stock worth $18,143,884,000 after acquiring an additional 1,441,626 shares during the last quarter. Toronto Dominion Bank raised its stake in Advanced Micro Devices by 443.3% in the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer's stock worth $660,475,000 after acquiring an additional 4,461,609 shares during the last quarter. Nicolet Bankshares Inc. raised its stake in Advanced Micro Devices by 56.4% in the 4th quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer's stock worth $426,000 after acquiring an additional 1,271 shares during the last quarter. Finally, Bank Pictet & Cie Europe AG raised its stake in Advanced Micro Devices by 12.7% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 264,574 shares of the semiconductor manufacturer's stock worth $31,958,000 after acquiring an additional 29,825 shares during the last quarter. Institutional investors own 71.34% of the company's stock.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices 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 sale, the executive vice president directly owned 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by insiders.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded up $0.59 during mid-day trading on Wednesday, hitting $138.41. 36,932,094 shares of the stock were exchanged, compared to its average volume of 41,915,092. The stock's fifty day simple moving average is $120.26 and its two-hundred day simple moving average is $111.93. The stock has a market capitalization of $224.42 billion, a price-to-earnings ratio of 101.77, a P/E/G ratio of 1.78 and a beta of 2.05. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month 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 announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business's quarterly revenue was up 35.9% compared to the same quarter last year. On average, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Wall Street Analyst Weigh In

AMD has been the subject of a number of research analyst reports. Benchmark restated a "buy" rating and issued a $170.00 target price on shares of Advanced Micro Devices in a research note on Friday, June 13th. DZ Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating and set a $118.00 price objective for the company in a research note on Thursday, May 8th. Robert W. Baird reduced their price objective on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Evercore ISI set a $144.00 price objective on Advanced Micro Devices and gave the company an "outperform" rating in a research note on Friday, June 13th. Finally, Sanford C. Bernstein reiterated a "reduce" rating on shares of Advanced Micro Devices in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $139.55.

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.