Texas Bank & Trust Co Takes $323,000 Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Texas Bank & Trust Co purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,670 shares of the semiconductor manufacturer’s stock, valued at approximately $323,000.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new position in Advanced Micro Devices during the 4th quarter worth $2,867,193,000. Toronto Dominion Bank raised its position in Advanced Micro Devices by 443.3% during the 4th quarter. Toronto Dominion Bank now owns 5,467,956 shares of the semiconductor manufacturer’s stock worth $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in Advanced Micro Devices by 2,265.5% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 3,017,294 shares of the semiconductor manufacturer’s stock worth $364,459,000 after purchasing an additional 2,889,739 shares during the last quarter. Northern Trust Corp raised its position in Advanced Micro Devices by 20.1% during the 4th quarter. Northern Trust Corp now owns 17,155,522 shares of the semiconductor manufacturer’s stock worth $2,072,215,000 after purchasing an additional 2,874,012 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Advanced Micro Devices by 23.3% during the 4th quarter. Van ECK Associates Corp now owns 11,859,744 shares of the semiconductor manufacturer’s stock worth $1,432,538,000 after purchasing an additional 2,238,866 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.06% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $117.17 on Monday. Advanced Micro Devices, Inc. has a twelve month low of $76.48 and a twelve month high of $187.28. The stock’s 50 day moving average price is $98.94 and its 200-day moving average price is $114.71. The company has a market capitalization of $189.98 billion, a PE ratio of 118.35, a PEG ratio of 1.11 and a beta of 1.97. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion for the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter in the previous year, the business earned $0.62 EPS. The company’s revenue was up 35.9% compared to the same quarter last year. On average, equities analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

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

Analyst Upgrades and Downgrades

AMD has been the subject of several analyst reports. Robert W. Baird lowered their target price on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. KeyCorp lowered Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. StockNews.com upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Piper Sandler reiterated an “overweight” rating and set a $125.00 price target (down from $140.00) on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Finally, Mizuho decreased their price target on Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.10.

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.