Wesbanco Bank Inc. Boosts Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Wesbanco Bank Inc. raised its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,442 shares of the semiconductor manufacturer’s stock after acquiring an additional 18,038 shares during the quarter. Wesbanco Bank Inc.’s holdings in Advanced Micro Devices were worth $19,258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. First Citizens Bank & Trust Co. raised its position in shares of Advanced Micro Devices by 132.2% in the first quarter. First Citizens Bank & Trust Co. now owns 42,769 shares of the semiconductor manufacturer’s stock valued at $4,394,000 after buying an additional 24,351 shares during the last quarter. Capital Investment Advisors LLC grew its stake in Advanced Micro Devices by 16.3% during the 1st quarter. Capital Investment Advisors LLC now owns 14,954 shares of the semiconductor manufacturer’s stock valued at $1,536,000 after acquiring an additional 2,092 shares in the last quarter. Tilia Fiduciary Partners Inc. raised its holdings in Advanced Micro Devices by 9.0% in the 1st quarter. Tilia Fiduciary Partners Inc. now owns 20,467 shares of the semiconductor manufacturer’s stock valued at $2,103,000 after acquiring an additional 1,687 shares during the last quarter. Meridian Financial Partners LLC raised its holdings in Advanced Micro Devices by 5.5% in the 1st quarter. Meridian Financial Partners LLC now owns 11,990 shares of the semiconductor manufacturer’s stock valued at $1,232,000 after acquiring an additional 620 shares during the last quarter. Finally, Professional Advisory Services Inc. lifted its stake in Advanced Micro Devices by 23.9% in the 1st quarter. Professional Advisory Services Inc. now owns 140,161 shares of the semiconductor manufacturer’s stock worth $14,400,000 after purchasing an additional 27,070 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the sale, the executive vice president now owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AMD. Stifel Nicolaus set a $132.00 price target on Advanced Micro Devices in a report on Monday, April 28th. TD Cowen upped their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Barclays lifted their price target on Advanced Micro Devices from $110.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, May 16th. Sanford C. Bernstein lowered their price target on shares of Advanced Micro Devices from $125.00 to $95.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Fifteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $132.58.

Advanced Micro Devices Trading Up 0.4%

Shares of AMD stock opened at $116.19 on Monday. 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 stock has a market capitalization of $188.39 billion, a P/E ratio of 117.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. The company has a 50 day moving average price of $101.39 and a 200 day moving average price of $111.78. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.03. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.62 earnings per share. Equities research analysts predict that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has approved a stock buyback program on Wednesday, May 14th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.