M&T Bank Corp Boosts Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

M&T Bank Corp grew its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.0% during the third quarter, HoldingsChannel reports. The fund owned 116,889 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,569 shares during the quarter. M&T Bank Corp’s holdings in Advanced Micro Devices were worth $19,179,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AMD. Creative Capital Management Investments LLC grew its stake in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC boosted its holdings in shares of Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 75 shares in the last quarter. Morton Brown Family Wealth LLC grew its position in shares of Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares during the last quarter. Fairway Wealth LLC bought a new position in shares of Advanced Micro Devices during the 2nd quarter worth approximately $27,000. Finally, Ridgewood Investments LLC purchased a new stake in Advanced Micro Devices during the second quarter valued at approximately $35,000. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $119.21 on Friday. The firm has a market cap of $193.45 billion, a PE ratio of 107.40, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52 week low of $117.90 and a 52 week high of $227.30. The business’s fifty day simple moving average is $142.00 and its 200-day simple moving average is $150.54.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS 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 for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the firm earned $0.53 earnings per share. The firm’s revenue was up 17.6% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.54 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total value of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, 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 sold a total of 197,036 shares of company stock worth $28,165,821 over the last 90 days. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMD. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. TD Cowen lowered their price target 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. UBS Group cut their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Roth Mkm reiterated a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday, October 11th. Finally, Mizuho cut their price target on shares of Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating on the stock in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $191.96.

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.