RNC Capital Management LLC Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

RNC Capital Management LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 64.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,745 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,357 shares during the period. RNC Capital Management LLC’s holdings in Advanced Micro Devices were worth $5,417,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AMD. Fairfield Bush & CO. purchased a new stake in shares of Advanced Micro Devices in the 1st quarter valued at approximately $836,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Advanced Micro Devices by 49.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,384,719 shares of the semiconductor manufacturer’s stock worth $260,746,000 after acquiring an additional 791,710 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its position in Advanced Micro Devices by 34.9% in the first quarter. U.S. Capital Wealth Advisors LLC now owns 2,677 shares of the semiconductor manufacturer’s stock valued at $293,000 after purchasing an additional 692 shares during the period. Raymond James Trust N.A. lifted its stake in shares of Advanced Micro Devices by 104.8% in the 1st quarter. Raymond James Trust N.A. now owns 7,959 shares of the semiconductor manufacturer’s stock valued at $870,000 after purchasing an additional 4,072 shares during the last quarter. Finally, Baird Financial Group Inc. grew its holdings in shares of Advanced Micro Devices by 217.2% during the 1st quarter. Baird Financial Group Inc. now owns 398,051 shares of the semiconductor manufacturer’s stock worth $43,524,000 after purchasing an additional 272,557 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $179.59 on Thursday. The firm has a market capitalization of $287.34 billion, a P/E ratio of 345.37, a P/E/G ratio of 2.69 and a beta of 1.66. Advanced Micro Devices, Inc. has a 52 week low of $81.02 and a 52 week high of $227.30. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. The firm’s 50 day moving average is $180.63 and its two-hundred day moving average is $140.69.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 EPS for the quarter, meeting the consensus estimate of $0.77. The company had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.13 billion. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 earnings per share. Research analysts forecast that Advanced Micro Devices, Inc. will post 2.67 EPS for the current fiscal year.

Insider Activity

In other news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total value of $24,391,250.00. Following the completion of the sale, the chief executive officer now directly owns 3,222,230 shares of the company’s stock, valued at $628,753,739.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total value of $24,391,250.00. Following the completion of the sale, the chief executive officer now directly owns 3,222,230 shares of the company’s stock, valued at $628,753,739.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at $794,069.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 324,943 shares of company stock valued at $59,919,994. 0.73% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

AMD has been the subject of several research analyst reports. Susquehanna increased their target price on shares of Advanced Micro Devices from $170.00 to $210.00 and gave the stock a “positive” rating in a research note on Monday, January 29th. New Street Research upgraded Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Wednesday, January 24th. KeyCorp lifted their price objective on Advanced Micro Devices from $195.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. TD Cowen increased their target price on Advanced Micro Devices from $130.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, January 18th. Finally, Melius Research raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $188.00 target price for the company in a research report on Monday, January 8th. Four investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.82.

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.