Fifth Third Bancorp Acquires 24,080 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Fifth Third Bancorp increased its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 5.7% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 445,540 shares of the semiconductor manufacturer’s stock after buying an additional 24,080 shares during the quarter. Fifth Third Bancorp’s holdings in Advanced Micro Devices were worth $53,817,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AMD. Christopher J. Hasenberg Inc increased its holdings in Advanced Micro Devices by 12.0% during the third quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after buying an additional 60 shares during the period. Wealth Effects LLC raised its position in shares of Advanced Micro Devices by 0.7% in the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock worth $1,545,000 after acquiring an additional 65 shares in the last quarter. Jacobsen Capital Management boosted its position in Advanced Micro Devices by 2.1% during the third quarter. Jacobsen Capital Management now owns 3,378 shares of the semiconductor manufacturer’s stock valued at $554,000 after purchasing an additional 70 shares in the last quarter. Sigma Investment Counselors Inc. grew its stake in Advanced Micro Devices by 5.3% in the third quarter. Sigma Investment Counselors Inc. now owns 1,482 shares of the semiconductor manufacturer’s stock valued at $243,000 after purchasing an additional 74 shares during the last quarter. Finally, Bedell Frazier Investment Counselling LLC raised its holdings in Advanced Micro Devices by 4.3% in the third quarter. Bedell Frazier Investment Counselling LLC now owns 1,780 shares of the semiconductor manufacturer’s stock worth $292,000 after purchasing an additional 74 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

AMD opened at $122.84 on Friday. Advanced Micro Devices, Inc. has a twelve month low of $114.41 and a twelve month high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $199.35 billion, a PE ratio of 110.67, a PEG ratio of 1.09 and a beta of 1.66. The firm’s 50-day moving average price is $128.36 and its 200 day moving average price is $144.12.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This represents a 12.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, 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. In the last ninety days, insiders have sold 197,036 shares of company stock worth $28,165,821. Company insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

AMD has been the subject of several recent analyst reports. HSBC reiterated a “reduce” rating and set a $110.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Citigroup lowered their price objective on Advanced Micro Devices from $200.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays reduced their target price on Advanced Micro Devices from $170.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Wolfe Research downgraded Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 16th. Finally, KeyCorp cut their price objective on shares of Advanced Micro Devices from $220.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $176.33.

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.