Deutsche Bank AG Buys 2,221,905 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Deutsche Bank AG increased its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 27.9% in the first quarter, HoldingsChannel reports. The firm owned 10,175,532 shares of the semiconductor manufacturer’s stock after buying an additional 2,221,905 shares during the period. Deutsche Bank AG’s holdings in Advanced Micro Devices were worth $1,045,434,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Greenline Partners LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at about $28,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $30,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Advanced Micro Devices by 277.8% during the 1st 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 in the last quarter. American Capital Advisory LLC raised its stake in shares of Advanced Micro Devices by 90.3% during the 1st 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. Finally, Investors Research Corp lifted its position in Advanced Micro Devices by 117.9% during the first quarter. Investors Research Corp now owns 305 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 165 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AMD shares. Piper Sandler lifted their price target on shares of Advanced Micro Devices from $140.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday. Melius upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $175.00 target price on the stock in a research note on Monday, June 23rd. Hsbc Global Res raised Advanced Micro Devices from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 10th. Jefferies Financial Group increased their price target on Advanced Micro Devices from $100.00 to $160.00 in a research note on Wednesday, July 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $178.09.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 1,713,710 shares in the company, valued at $265,676,461.30. This trade represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.06% of the company’s stock.

Advanced Micro Devices Trading Down 6.4%

Shares of NASDAQ:AMD opened at $163.12 on Thursday. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.06. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $182.50. The business has a 50 day moving average of $142.11 and a two-hundred day moving average of $117.55. The company has a market capitalization of $264.48 billion, a PE ratio of 93.75, a PEG ratio of 2.31 and a beta of 1.94.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.06). Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.61%. The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. As a group, analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Advanced Micro Devices Company 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.