Cullen Frost Bankers Inc. Cuts Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Cullen Frost Bankers Inc. decreased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 66.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,003 shares of the semiconductor manufacturer’s stock after selling 61,848 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Advanced Micro Devices were worth $3,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $2,867,193,000. Toronto Dominion Bank grew its holdings 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 valued at $660,475,000 after purchasing an additional 4,461,609 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in Advanced Micro Devices by 2,265.5% in 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 acquiring an additional 2,889,739 shares in the last quarter. Northern Trust Corp lifted its position in shares of Advanced Micro Devices by 20.1% in 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 period. Finally, GAMMA Investing LLC lifted its position in shares of Advanced Micro Devices by 12,097.8% in the 1st quarter. GAMMA Investing LLC now owns 2,008,978 shares of the semiconductor manufacturer’s stock worth $206,402,000 after purchasing an additional 1,992,508 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 1,713,710 shares of the company’s stock, valued at $265,676,461.30. This represents a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

AMD has been the subject of a number of research reports. Seaport Res Ptn upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, April 30th. Mizuho upped their price target on shares of Advanced Micro Devices from $152.00 to $175.00 and gave the company an “outperform” rating in a research report on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Friday, June 13th. Morgan Stanley lowered their price objective on shares of Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Finally, Citigroup reaffirmed a “hold” rating on shares of Advanced Micro Devices in a research note on Monday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-three have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $152.58.

Advanced Micro Devices Price Performance

AMD stock opened at $160.41 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.80 and a quick ratio of 1.97. Advanced Micro Devices, Inc. has a 1 year low of $76.48 and a 1 year high of $174.05. The company has a 50 day simple moving average of $126.58 and a 200 day simple moving average of $113.05. The stock has a market cap of $260.09 billion, a price-to-earnings ratio of 117.95, a P/E/G ratio of 2.14 and a beta of 2.05.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 8.03% and a return on equity of 8.30%. The business had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the business posted $0.62 earnings per share. Advanced Micro Devices’s revenue for the quarter was up 35.9% on a year-over-year basis. Research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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.