Eastern Bank Purchases 50,207 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Eastern Bank lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMDFree Report) by 31.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 208,922 shares of the semiconductor manufacturer’s stock after purchasing an additional 50,207 shares during the period. Eastern Bank’s holdings in Advanced Micro Devices were worth $25,236,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of AMD. Enterprise Bank & Trust Co acquired a new position in Advanced Micro Devices in the fourth quarter valued at $248,000. Harbour Capital Advisors LLC bought a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $333,000. Cooper Financial Group grew its position in Advanced Micro Devices by 1.1% in the 4th quarter. Cooper Financial Group now owns 9,754 shares of the semiconductor manufacturer’s stock worth $1,178,000 after purchasing an additional 104 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Advanced Micro Devices by 5.1% in the 4th quarter. Salem Investment Counselors Inc. now owns 173,623 shares of the semiconductor manufacturer’s stock worth $20,972,000 after purchasing an additional 8,427 shares in the last quarter. Finally, Fragasso Financial Advisors Inc grew its position in Advanced Micro Devices by 30.5% in the 4th quarter. Fragasso Financial Advisors Inc now owns 2,255 shares of the semiconductor manufacturer’s stock worth $272,000 after purchasing an additional 527 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 0.9 %

Advanced Micro Devices stock traded up $1.10 during midday trading on Monday, hitting $117.14. 33,172,788 shares of the company’s stock were exchanged, compared to its average volume of 42,319,820. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. Advanced Micro Devices, Inc. has a 12 month low of $114.41 and a 12 month high of $227.30. The firm has a 50-day moving average of $132.58 and a two-hundred day moving average of $146.57. The company has a market cap of $190.10 billion, a PE ratio of 105.53, a P/E/G ratio of 1.88 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMDGet Free Report) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the business earned $0.53 EPS. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. As a group, analysts expect that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.73% of the company’s stock.

Analyst Ratings Changes

AMD has been the subject of a number of research reports. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. HSBC reiterated a “reduce” rating and issued a $110.00 target price (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Mizuho decreased their price target on shares of Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating on the stock in a report on Friday. Morgan Stanley reduced their target price on shares of Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. Finally, Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the company from $180.00 to $155.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $182.44.

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About Advanced Micro Devices

(Free Report)

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.

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Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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