Zions Bancorporation National Association UT Invests $365,000 in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Zions Bancorporation National Association UT acquired 3,550 shares of Advanced Micro Devices for approximately $365,000 in the first quarter, joining other institutional investors that hold 71.34% of the company's stock.
• Analysts have raised their target prices for AMD shares significantly, with Piper Sandler setting a target of $190.00 and Raymond James Financial increasing their target to $200.00, reflecting strong confidence in the company's future.
• Despite missing Q2 earnings estimates, AMD reported a 31.7% year-over-year revenue increase to $7.69 billion, showcasing growth potential even amid analyst discrepancies.

Zions Bancorporation National Association UT acquired a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,550 shares of the semiconductor manufacturer's stock, valued at approximately $365,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Greenline Partners LLC bought a new stake in shares of Advanced Micro Devices in the 4th quarter worth $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 200 shares during the period. American Capital Advisory LLC raised its position in 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 acquiring an additional 130 shares in the last quarter. Kozak & Associates Inc. lifted its holdings in Advanced Micro Devices by 67.6% in the 1st quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock valued at $29,000 after acquiring an additional 123 shares during the last quarter. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices in the 4th quarter valued at about $30,000. 71.34% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on AMD. Deutsche Bank Aktiengesellschaft set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, August 6th. Citigroup upped their price target on shares of Advanced Micro Devices from $145.00 to $165.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. The Goldman Sachs Group upgraded Advanced Micro Devices to a "hold" rating and set a $140.00 target price for the company in a report on Thursday, July 10th. Stifel Nicolaus upped their price target on Advanced Micro Devices from $161.00 to $190.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Finally, Erste Group Bank upgraded shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research report on Wednesday, July 23rd. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $179.21.

Insider Buying and Selling

In related news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the completion of the sale, the executive vice president directly owned 1,713,710 shares of the company's stock, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Paul Darren Grasby sold 10,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total value of $1,732,100.00. Following the sale, the executive vice president directly owned 125,505 shares of the company's stock, valued at approximately $21,738,721.05. The trade was a 7.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.06% of the company's stock.

Advanced Micro Devices Trading Up 1.5%

Advanced Micro Devices stock traded up $2.67 during trading hours on Tuesday, reaching $174.95. 52,223,903 shares of the company's stock traded hands, compared to its average volume of 69,126,600. The firm's 50 day moving average is $145.71 and its 200-day moving average is $118.52. The firm has a market capitalization of $283.92 billion, a price-to-earnings ratio of 100.55, a PEG ratio of 1.99 and a beta of 1.94. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $182.50. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.81 and a current ratio of 2.49.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.54 by ($0.06). The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. The business's revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. On average, analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has initiated a share 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 repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs 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.