PNC Financial Services Group Inc. Raises Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

PNC Financial Services Group Inc. increased its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 4.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 327,613 shares of the semiconductor manufacturer's stock after buying an additional 13,189 shares during the period. PNC Financial Services Group Inc.'s holdings in Advanced Micro Devices were worth $53,755,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. International Assets Investment Management LLC boosted its stake in Advanced Micro Devices by 17,137.3% during the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer's stock worth $1,289,818,000 after acquiring an additional 7,815,305 shares in the last quarter. Van ECK Associates Corp raised its stake in Advanced Micro Devices by 52.6% during the 2nd quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer's stock worth $1,402,412,000 after buying an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer's stock worth $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in Advanced Micro Devices in the second quarter valued at approximately $296,178,000. Finally, Swedbank AB bought a new stake in shares of Advanced Micro Devices during the first quarter valued at approximately $290,842,000. Institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Stock Down 1.3 %

AMD stock opened at $137.60 on Thursday. Advanced Micro Devices, Inc. has a twelve month low of $116.37 and a twelve month high of $227.30. The firm has a market capitalization of $223.30 billion, a PE ratio of 123.96, a PEG ratio of 1.93 and a beta of 1.71. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $154.22 and a two-hundred day simple moving average of $154.82.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The company had revenue of $6.82 billion during the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm's quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter last year, the company earned $0.53 earnings per share. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 2.53 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on AMD shares. Truist Financial reduced their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a "hold" rating for the company in a research report on Wednesday, July 31st. Evercore ISI raised their price target on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Bank of America reissued a "buy" rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. StockNews.com downgraded Advanced Micro Devices from a "hold" rating to a "sell" rating in a report on Wednesday, July 31st. Finally, BNP Paribas raised shares of Advanced Micro Devices to a "strong-buy" rating in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of "Moderate Buy" and a consensus target price of $192.79.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the firm's 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 sale, the chief executive officer now owns 3,566,762 shares of the company's stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company's stock.

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.