Mechanics Bank Trust Department Takes Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Mechanics Bank Trust Department purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,880 shares of the semiconductor manufacturer’s stock, valued at approximately $227,000.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AMD shares. TD Cowen cut their price objective on Advanced Micro Devices from $185.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. Finally, HSBC reiterated a “reduce” rating and issued a $110.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average price target of $178.61.

Insider Buying and Selling

In related news, CEO Lisa T. Su sold 76,496 shares of the firm’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This trade represents a 2.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock valued at $28,165,821 over the last quarter. 0.73% of the stock is currently owned by company insiders.

Advanced Micro Devices Trading Up 2.5 %

Shares of Advanced Micro Devices stock opened at $121.46 on Tuesday. The firm’s 50 day simple moving average is $129.94 and its two-hundred day simple moving average is $145.06. The firm has a market capitalization of $197.11 billion, a price-to-earnings ratio of 109.42, a PEG ratio of 1.03 and a beta of 1.66. Advanced Micro Devices, Inc. has a 12-month low of $114.41 and a 12-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.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the firm earned $0.53 EPS. The firm’s revenue was up 17.6% on a year-over-year basis. Analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

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.