Essex Savings Bank Raises Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Essex Savings Bank grew its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 20.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,386 shares of the semiconductor manufacturer’s stock after buying an additional 741 shares during the quarter. Essex Savings Bank’s holdings in Advanced Micro Devices were worth $451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AMD. Vanguard Group Inc. boosted its stake in shares of Advanced Micro Devices by 1.0% in the fourth 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 period. Geode Capital Management LLC boosted its stake in Advanced Micro Devices by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 35,079,256 shares of the semiconductor manufacturer’s stock valued at $4,224,840,000 after buying an additional 835,413 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Advanced Micro Devices by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after buying an additional 290,784 shares during the last quarter. Norges Bank bought a new position in Advanced Micro Devices during the fourth quarter valued at approximately $2,867,193,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Advanced Micro Devices by 9.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 21,401,436 shares of the semiconductor manufacturer’s stock valued at $2,585,079,000 after buying an additional 1,929,225 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 0.2%

AMD opened at $126.79 on Thursday. The stock’s fifty day moving average is $106.68 and its two-hundred day moving average is $111.30. The company has a market capitalization of $205.58 billion, a P/E ratio of 93.23, a PEG ratio of 1.64 and a beta of 1.99. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.06.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 8.30% and a net margin of 8.03%. Advanced Micro Devices’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the business posted $0.62 EPS. Analysts forecast that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. KeyCorp lowered Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 8th. Morgan Stanley dropped their price target on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 7th. Loop Capital decreased their price objective on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Benchmark restated a “buy” rating and set a $170.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 13th. Finally, Bank of America upped their price objective on Advanced Micro Devices from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $134.61.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is currently owned by company insiders.

Advanced Micro Devices Profile

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.