PNC Financial Services Group Inc. Lowers Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

PNC Financial Services Group Inc. reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 317,312 shares of the semiconductor manufacturer's stock after selling 10,301 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Advanced Micro Devices were worth $38,328,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its holdings in Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer's stock worth $1,584,515,000 after acquiring an additional 177,700 shares in the last quarter. Swiss National Bank grew its position in Advanced Micro Devices by 0.3% during the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer's stock valued at $787,186,000 after buying an additional 12,500 shares during the period. Shum Financial Group Inc. purchased a new position in shares of Advanced Micro Devices in the 3rd quarter valued at about $858,000. State Street Corp lifted its position in shares of Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer's stock valued at $11,513,538,000 after buying an additional 1,580,035 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Advanced Micro Devices by 1.3% in the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer's stock valued at $5,597,337,000 after purchasing an additional 441,924 shares during the period. 71.34% of the stock is owned by institutional investors.

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Advanced Micro Devices Trading Up 2.0 %

Shares of AMD stock traded up $1.93 on Wednesday, hitting $98.69. The company had a trading volume of 7,244,425 shares, compared to its average volume of 39,128,137. The stock's 50-day moving average is $113.39 and its two-hundred day moving average is $134.17. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The firm has a market cap of $159.92 billion, a P/E ratio of 99.45, a P/E/G ratio of 1.11 and a beta of 1.74. Advanced Micro Devices, Inc. has a twelve month low of $94.73 and a twelve month high of $198.83.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share for the quarter, meeting analysts' consensus estimates of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. StockNews.com lowered Advanced Micro Devices from a "hold" rating to a "sell" rating in a report on Thursday, March 6th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research report on Tuesday, February 4th. HSBC reissued a "reduce" rating and set a $110.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, January 8th. Wells Fargo & Company restated an "overweight" rating on shares of Advanced Micro Devices in a research note on Wednesday, February 19th. Finally, The Goldman Sachs Group lowered shares of Advanced Micro Devices from a "buy" rating to a "neutral" rating and cut their target price for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and a consensus price target of $155.83.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Philip Guido purchased 4,645 shares of the firm's stock in a transaction on Friday, February 7th. The stock was acquired at an average price of $107.56 per share, for a total transaction of $499,616.20. Following the purchase, the executive vice president now owns 33,522 shares of the company's stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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.