Private Asset Management Inc. cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 97.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 332 shares of the semiconductor manufacturer’s stock after selling 13,668 shares during the period. Private Asset Management Inc.’s holdings in Advanced Micro Devices were worth $332,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Advanced Micro Devices by 6.6% during the 2nd quarter. Vanguard Group Inc. now owns 93,092,619 shares of the semiconductor manufacturer’s stock valued at $1,161,796,000 after buying an additional 5,797,819 shares during the last quarter. Baillie Gifford & Co. purchased a new position in shares of Advanced Micro Devices during the 2nd quarter worth $184,767,000. Legal & General Group Plc lifted its stake in shares of Advanced Micro Devices by 12.2% during the 2nd quarter. Legal & General Group Plc now owns 3,927,691 shares of the semiconductor manufacturer’s stock worth $49,018,000 after purchasing an additional 428,379 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Advanced Micro Devices by 3,815.8% during the 2nd quarter. Janus Henderson Group PLC now owns 3,833,805 shares of the semiconductor manufacturer’s stock worth $47,845,000 after purchasing an additional 3,735,900 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Advanced Micro Devices by 7.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,675,249 shares of the semiconductor manufacturer’s stock worth $53,472,000 after purchasing an additional 269,478 shares during the period. Institutional investors own 59.10% of the company’s stock.
Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) traded down 1.37% during midday trading on Friday, hitting $11.84. The stock had a trading volume of 115,650,373 shares. Advanced Micro Devices, Inc. has a 12-month low of $6.22 and a 12-month high of $15.65. The stock’s market cap is $11.21 billion. The stock has a 50-day moving average price of $13.22 and a 200-day moving average price of $12.72.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. Advanced Micro Devices had a negative return on equity of 4.99% and a negative net margin of 1.39%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company posted ($0.05) earnings per share. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices, Inc. will post $0.13 earnings per share for the current year.
In related news, CEO Lisa T. Su sold 82,709 shares of the company’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $13.62, for a total value of $1,126,496.58. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Forrest Eugene Norrod sold 104,688 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $13.18, for a total transaction of $1,379,787.84. Following the completion of the sale, the senior vice president now directly owns 792,491 shares in the company, valued at approximately $10,445,031.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,075,002 shares of company stock worth $552,120,780. 1.60% of the stock is currently owned by company insiders.
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AMD has been the topic of several research reports. BNP Paribas raised Advanced Micro Devices from a “neutral” rating to an “outperform” rating in a research report on Thursday, October 12th. Bank of America Corporation reiterated a “buy” rating on shares of Advanced Micro Devices in a report on Sunday, October 1st. Wells Fargo & Company reiterated an “outperform” rating and issued a $15.00 price target on shares of Advanced Micro Devices in a report on Friday, June 30th. Morgan Stanley restated an “equal weight” rating and set a $6.00 target price on shares of Advanced Micro Devices in a research note on Thursday, August 31st. Finally, Jefferies Group LLC set a $19.00 target price on Advanced Micro Devices and gave the company a “buy” rating in a research note on Wednesday, July 26th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Advanced Micro Devices presently has an average rating of “Hold” and an average price target of $14.16.
Advanced Micro Devices Profile
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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