Penobscot Investment Management Company Inc. Lowers Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Penobscot Investment Management Company Inc. reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,195 shares of the semiconductor manufacturer’s stock after selling 705 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Advanced Micro Devices were worth $431,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of AMD. KLP Kapitalforvaltning AS purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $65,897,000. Vanguard Group Inc. raised its stake in shares of Advanced Micro Devices by 1.0% during 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 in the last quarter. Toronto Dominion Bank raised its stake in shares of Advanced Micro Devices by 443.3% during the fourth quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after acquiring an additional 4,461,609 shares in the last quarter. Nicolet Bankshares Inc. raised its stake in shares of Advanced Micro Devices by 56.4% during the fourth quarter. Nicolet Bankshares Inc. now owns 3,523 shares of the semiconductor manufacturer’s stock worth $426,000 after acquiring an additional 1,271 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock worth $2,909,350,000 after purchasing an additional 290,784 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business’s stock in a transaction dated 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 now owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Advanced Micro Devices Price Performance

AMD opened at $143.68 on Friday. The stock has a 50-day moving average price of $111.93 and a 200-day moving average price of $111.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. The firm has a market cap of $232.96 billion, a PE ratio of 105.65, a P/E/G ratio of 1.85 and a beta of 1.99. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The firm had revenue of $7.44 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.62 EPS. Sell-side 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 of Directors has authorized a share buyback program on Wednesday, May 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AMD. Piper Sandler raised their target price on shares of Advanced Micro Devices from $125.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday, June 16th. Citigroup restated a “neutral” rating and issued a $120.00 target price (up previously from $100.00) on shares of Advanced Micro Devices in a report on Monday, June 9th. Wells Fargo & Company cut their price target on shares of Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, April 17th. Raymond James Financial reiterated an “outperform” rating and issued a $120.00 price target (down previously from $150.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, Dbs Bank cut shares of Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 8th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.19.

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.