RNC Capital Management LLC Purchases 14,357 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

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

A number of other large investors also recently modified their holdings of AMD. Meridian Wealth Management LLC lifted its holdings in shares of Advanced Micro Devices by 135.6% in the 3rd quarter. Meridian Wealth Management LLC now owns 205,154 shares of the semiconductor manufacturer’s stock worth $21,135,000 after acquiring an additional 118,090 shares during the last quarter. Gendell Jeffrey L purchased a new stake in Advanced Micro Devices during the 3rd quarter valued at about $3,085,000. Sara Bay Financial bought a new position in Advanced Micro Devices during the 4th quarter worth approximately $315,000. Victory Capital Management Inc. increased its stake in Advanced Micro Devices by 6.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,460,506 shares of the semiconductor manufacturer’s stock worth $150,169,000 after purchasing an additional 86,571 shares during the period. Finally, UG Investment Advisers Ltd. bought a new stake in Advanced Micro Devices in the third quarter valued at approximately $13,217,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $179.59 on Thursday. Advanced Micro Devices, Inc. has a one year low of $81.02 and a one year high of $227.30. The stock has a 50-day moving average of $180.63 and a 200 day moving average of $140.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51. The company has a market capitalization of $287.34 billion, a price-to-earnings ratio of 345.37, a PEG ratio of 2.69 and a beta of 1.66.

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, hitting analysts’ consensus estimates of $0.77. Advanced Micro Devices had a net margin of 3.77% and a return on equity of 5.73%. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.13 billion. During the same period in the previous year, the business posted $0.54 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 2.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Advanced Micro Devices from $135.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. Rosenblatt Securities restated a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Tuesday, January 30th. Barclays raised their target price on Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. JPMorgan Chase & Co. boosted their target price on Advanced Micro Devices from $115.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Finally, Northland Securities upgraded shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $195.00 price target on the stock in a research report on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and a consensus price target of $181.82.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 59,293 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the completion of the sale, the executive vice president now owns 258,690 shares in the company, valued at $45,513,918.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Victor Peng sold 100,000 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the completion of the sale, the insider now owns 241,266 shares of the company’s stock, valued at approximately $42,248,089.26. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $175.94, for a total value of $10,432,010.42. Following the completion of the sale, the executive vice president now owns 258,690 shares of the company’s stock, valued at $45,513,918.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 324,943 shares of company stock worth $59,919,994. Insiders own 0.73% of the company’s stock.

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.