Washington Trust Bank Raises Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Washington Trust Bank lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 22.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173,054 shares of the semiconductor manufacturer's stock after buying an additional 32,289 shares during the period. Advanced Micro Devices comprises approximately 1.8% of Washington Trust Bank's investment 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 SEC.

Several other institutional investors also recently modified their holdings of the stock. U.S. Capital Wealth Advisors LLC grew its stake in shares of Advanced Micro Devices by 37.5% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 72,214 shares of the semiconductor manufacturer's stock worth $7,419,000 after purchasing an additional 19,704 shares during the last quarter. California First Leasing Corp lifted its holdings in Advanced Micro Devices by 13.5% during the 1st quarter. California First Leasing Corp now owns 42,100 shares of the semiconductor manufacturer's stock worth $4,325,000 after buying an additional 5,000 shares during the period. Callan Capital LLC raised its position in shares of Advanced Micro Devices by 27.6% during the first quarter. Callan Capital LLC now owns 3,775 shares of the semiconductor manufacturer's stock worth $388,000 after acquiring an additional 816 shares during the last quarter. Capital Advisors Inc. OK raised its position in shares of Advanced Micro Devices by 36.2% during the first quarter. Capital Advisors Inc. OK now owns 7,418 shares of the semiconductor manufacturer's stock worth $762,000 after acquiring an additional 1,972 shares during the last quarter. Finally, Penserra Capital Management LLC boosted its stake in shares of Advanced Micro Devices by 59.9% in the 1st quarter. Penserra Capital Management LLC now owns 186,603 shares of the semiconductor manufacturer's stock valued at $19,169,000 after purchasing an additional 69,870 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Advanced Micro Devices

In other 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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.06% of the stock is owned by insiders.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded up $5.75 during trading hours on Thursday, hitting $144.16. 60,879,472 shares of the company were exchanged, compared to its average volume of 41,990,757. The firm has a fifty day simple moving average of $120.26 and a 200 day simple moving average of $111.93. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 52-week low of $76.48 and a 52-week high of $187.28. The stock has a market capitalization of $233.74 billion, a price-to-earnings ratio of 106.00, a P/E/G ratio of 1.78 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. The business 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 company's revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 earnings per share. Research analysts predict 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 approved a share buyback program on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

AMD has been the subject of several research analyst reports. Robert W. Baird lowered their price objective on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Evercore ISI set a $144.00 price target on shares of Advanced Micro Devices and gave the company an "outperform" rating in a research note on Friday, June 13th. Hsbc Global Res upgraded Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a research note on Tuesday, May 27th. Susquehanna cut their price target on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating on the stock in a report on Thursday, April 24th. Finally, Benchmark reaffirmed a "buy" rating and set a $170.00 target price on shares of Advanced Micro Devices in a research report on Friday, June 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $147.00.

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.