PNC Financial Services Group Inc. Has $53.76 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

PNC Financial Services Group Inc. lifted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 4.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 327,613 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,189 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Advanced Micro Devices were worth $53,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AMD. Bessemer Group Inc. grew its holdings in Advanced Micro Devices by 13.9% in the 1st quarter. Bessemer Group Inc. now owns 24,004 shares of the semiconductor manufacturer’s stock valued at $4,332,000 after buying an additional 2,931 shares in the last quarter. EntryPoint Capital LLC lifted its position in shares of Advanced Micro Devices by 81.9% during the 1st quarter. EntryPoint Capital LLC now owns 342 shares of the semiconductor manufacturer’s stock worth $62,000 after buying an additional 154 shares during the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of Advanced Micro Devices by 9.0% in the first quarter. EP Wealth Advisors LLC now owns 45,866 shares of the semiconductor manufacturer’s stock worth $8,278,000 after acquiring an additional 3,783 shares during the last quarter. JT Stratford LLC boosted its position in Advanced Micro Devices by 43.7% in the first quarter. JT Stratford LLC now owns 4,995 shares of the semiconductor manufacturer’s stock valued at $902,000 after buying an additional 1,520 shares in the last quarter. Finally, K2 Principal Fund L.P. acquired a new stake in shares of Advanced Micro Devices during the 1st quarter valued at $298,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMD. Bank of America reissued a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. TD Cowen decreased their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Robert W. Baird cut their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $137.60 on Thursday. The business’s 50-day moving average is $154.22 and its 200 day moving average is $154.82. Advanced Micro Devices, Inc. has a 12 month low of $116.37 and a 12 month high of $227.30. The company has a market capitalization of $223.30 billion, a P/E ratio of 123.96, a P/E/G ratio of 1.87 and a beta of 1.71. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the prior year, the business earned $0.53 earnings per share. Advanced Micro Devices’s revenue was up 17.6% on a year-over-year basis. On average, equities research analysts forecast that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

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.