Eastern Bank Purchases 38,746 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Eastern Bank raised its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 32.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 158,715 shares of the semiconductor manufacturer’s stock after purchasing an additional 38,746 shares during the quarter. Eastern Bank’s holdings in Advanced Micro Devices were worth $26,042,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in AMD. Tradewinds Capital Management LLC increased its stake in Advanced Micro Devices by 102.9% during the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares in the last quarter. ZRC Wealth Management LLC lifted its holdings in Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares in the last quarter. Morton Brown Family Wealth LLC lifted its holdings in shares of Advanced Micro Devices by 94.4% in the second 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 in the last quarter. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices in the second quarter worth $27,000. Finally, Semmax Financial Advisors Inc. lifted its holdings in shares of Advanced Micro Devices by 926.7% in the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on AMD shares. Roth Mkm reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. Truist Financial lowered their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. TD Cowen raised shares of Advanced Micro Devices to a “strong-buy” rating in a research report on Monday, September 16th. Wedbush reiterated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Finally, KeyCorp dropped their price objective on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded down $4.28 during trading hours on Tuesday, hitting $153.62. 24,058,286 shares of the company were exchanged, compared to its average volume of 57,131,316. Advanced Micro Devices, Inc. has a 52-week low of $93.11 and a 52-week high of $227.30. The stock has a market capitalization of $248.30 billion, a price-to-earnings ratio of 224.71, a P/E/G ratio of 2.33 and a beta of 1.70. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The firm has a fifty day simple moving average of $154.28 and a 200 day simple moving average of $156.57.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. Research analysts predict that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

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.