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

Intrust Bank NA raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Rating) by 112.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,996 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,703 shares during the quarter. Intrust Bank NA’s holdings in Advanced Micro Devices were worth $453,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. SouthState Corp raised its position in shares of Advanced Micro Devices by 234.5% during the 3rd quarter. SouthState Corp now owns 388 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 272 shares during the last quarter. TD Capital Management LLC acquired a new position in shares of Advanced Micro Devices during the 3rd quarter worth about $25,000. Duncker Streett & Co. Inc. acquired a new position in shares of Advanced Micro Devices during the 4th quarter worth about $28,000. Western Pacific Wealth Management LP grew its stake in Advanced Micro Devices by 41.9% during the 4th quarter. Western Pacific Wealth Management LP now owns 545 shares of the semiconductor manufacturer’s stock valued at $35,000 after acquiring an additional 161 shares in the last quarter. Finally, Samalin Investment Counsel LLC grew its stake in Advanced Micro Devices by 112.5% during the 1st quarter. Samalin Investment Counsel LLC now owns 340 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 180 shares in the last quarter. 67.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Mizuho dropped their price objective on shares of Advanced Micro Devices from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, February 1st. Deutsche Bank Aktiengesellschaft increased their price target on shares of Advanced Micro Devices from $70.00 to $80.00 in a research note on Monday, April 24th. VNET Group reissued a “maintains” rating on shares of Advanced Micro Devices in a research note on Wednesday, May 3rd. Morgan Stanley increased their price objective on shares of Advanced Micro Devices from $87.00 to $102.00 in a research report on Monday, May 1st. Finally, Susquehanna increased their price objective on shares of Advanced Micro Devices from $115.00 to $120.00 in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.17.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $122.83 on Friday. The company’s fifty day moving average price is $95.31 and its 200 day moving average price is $81.58. Advanced Micro Devices, Inc. has a 12 month low of $54.57 and a 12 month high of $122.83. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.38 and a quick ratio of 1.74. The firm has a market capitalization of $197.80 billion, a P/E ratio of 523.26, a P/E/G ratio of 8.19 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The semiconductor manufacturer reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.04. Advanced Micro Devices had a net margin of 1.71% and a return on equity of 7.19%. The company had revenue of $5.35 billion for the quarter, compared to the consensus estimate of $5.31 billion. During the same period last year, the firm posted $1.02 EPS. Advanced Micro Devices’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, sell-side analysts predict that Advanced Micro Devices, Inc. will post 2.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Devinder Kumar sold 16,265 shares of the firm’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $94.85, for a total transaction of $1,542,735.25. Following the transaction, the executive vice president now directly owns 555,750 shares of the company’s stock, valued at approximately $52,712,887.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Devinder Kumar sold 16,265 shares of Advanced Micro Devices stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $94.85, for a total value of $1,542,735.25. Following the sale, the executive vice president now owns 555,750 shares of the company’s stock, valued at $52,712,887.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Mark D. Papermaster sold 30,000 shares of Advanced Micro Devices stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $81.69, for a total transaction of $2,450,700.00. Following the completion of the sale, the executive vice president now directly owns 1,516,945 shares in the company, valued at approximately $123,919,237.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 118,765 shares of company stock valued at $10,474,960. Insiders own 0.73% of the company’s stock.

Advanced Micro Devices Profile

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Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.