PNC Financial Services Group Inc. Lowers Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

PNC Financial Services Group Inc. lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 317,312 shares of the semiconductor manufacturer’s stock after selling 10,301 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Advanced Micro Devices were worth $38,328,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Swedbank AB raised its stake in shares of Advanced Micro Devices by 0.8% during the 3rd quarter. Swedbank AB now owns 2,151,636 shares of the semiconductor manufacturer’s stock worth $353,040,000 after buying an additional 17,446 shares in the last quarter. Howard Capital Management Group LLC lifted its holdings in Advanced Micro Devices by 21.6% in the third quarter. Howard Capital Management Group LLC now owns 1,827 shares of the semiconductor manufacturer’s stock valued at $300,000 after acquiring an additional 324 shares during the period. Principal Financial Group Inc. grew its stake in shares of Advanced Micro Devices by 30.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after purchasing an additional 588,595 shares during the period. Summit Global Investments increased its holdings in shares of Advanced Micro Devices by 52.1% in the 3rd quarter. Summit Global Investments now owns 3,885 shares of the semiconductor manufacturer’s stock valued at $637,000 after purchasing an additional 1,331 shares in the last quarter. Finally, Leavell Investment Management Inc. lifted its stake in shares of Advanced Micro Devices by 54.3% in the third quarter. Leavell Investment Management Inc. now owns 8,633 shares of the semiconductor manufacturer’s stock valued at $1,417,000 after purchasing an additional 3,039 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Philip Guido bought 4,645 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the purchase, the executive vice president now directly owns 33,522 shares in the company, valued at approximately $3,605,626.32. The trade was a 16.09 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.73% of the stock is currently owned by company insiders.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $100.31 on Monday. The stock has a market capitalization of $162.55 billion, a price-to-earnings ratio of 101.32, a PEG ratio of 1.11 and a beta of 1.74. Advanced Micro Devices, Inc. has a one year low of $95.89 and a one year high of $227.30. The company’s 50-day simple moving average is $114.39 and its 200-day simple moving average is $134.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMD. Rosenblatt Securities restated a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research report on Tuesday, February 4th. Mizuho dropped their price objective on Advanced Micro Devices from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Wolfe Research downgraded Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 16th. Truist Financial set a $130.00 target price on Advanced Micro Devices in a report on Wednesday, February 5th. Finally, Melius downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and cut their price target for the stock from $160.00 to $129.00 in a research note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $155.83.

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.