Mechanics Bank Trust Department Makes New $227,000 Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Mechanics Bank Trust Department bought a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,880 shares of the semiconductor manufacturer’s stock, valued at approximately $227,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC grew its holdings in Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after purchasing an additional 7,815,305 shares during the period. Assenagon Asset Management S.A. grew its stake in Advanced Micro Devices by 42.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after acquiring an additional 2,497,056 shares during the period. State Street Corp increased its holdings in Advanced Micro Devices by 2.3% in the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Advanced Micro Devices by 8.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock worth $3,195,000,000 after acquiring an additional 1,565,083 shares during the period. Finally, Van ECK Associates Corp raised its position in Advanced Micro Devices by 11.3% during the third quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock worth $1,471,128,000 after acquiring an additional 975,220 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

AMD has been the subject of a number of research reports. Loop Capital initiated coverage on shares of Advanced Micro Devices in a research note on Tuesday, January 14th. They set a “buy” rating and a $175.00 target price for the company. Wells Fargo & Company reduced their target price on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Mizuho dropped their price target on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, TD Cowen decreased their price objective on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.61.

Advanced Micro Devices Trading Up 2.5 %

AMD opened at $121.46 on Tuesday. Advanced Micro Devices, Inc. has a 52 week low of $114.41 and a 52 week high of $227.30. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The business has a fifty day simple moving average of $129.94 and a 200-day simple moving average of $145.06. The firm has a market cap of $197.11 billion, a P/E ratio of 109.42, a P/E/G ratio of 1.03 and a beta of 1.66.

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

Insiders Place Their Bets

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the completion of the transaction, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock worth $28,165,821 in the last ninety days. 0.73% of the stock is owned by corporate 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.