BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Trims Position in Advanced Micro Devices, Inc. (AMD)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 24.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 394,383 shares of the semiconductor manufacturer’s stock after selling 130,919 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Advanced Micro Devices were worth $12,182,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Municipal Employees Retirement System of Michigan increased its stake in shares of Advanced Micro Devices by 36.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 28,270 shares of the semiconductor manufacturer’s stock worth $423,000 after purchasing an additional 7,480 shares during the period. Cornerstone Wealth Management LLC bought a new position in shares of Advanced Micro Devices in the second quarter worth about $275,000. Janney Montgomery Scott LLC increased its stake in shares of Advanced Micro Devices by 14.2% in the second quarter. Janney Montgomery Scott LLC now owns 77,617 shares of the semiconductor manufacturer’s stock worth $1,163,000 after purchasing an additional 9,680 shares during the period. Piedmont Investment Advisors LLC bought a new position in shares of Advanced Micro Devices in the second quarter worth about $140,000. Finally, Daiwa Securities Group Inc. increased its stake in shares of Advanced Micro Devices by 28.9% in the second quarter. Daiwa Securities Group Inc. now owns 33,173 shares of the semiconductor manufacturer’s stock worth $497,000 after purchasing an additional 7,445 shares during the period. Institutional investors own 59.01% of the company’s stock.

AMD stock opened at $21.12 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 1.76. The stock has a market cap of $21.11 billion, a P/E ratio of 58.67, a PEG ratio of 4.34 and a beta of 3.68. Advanced Micro Devices, Inc. has a twelve month low of $9.04 and a twelve month high of $34.14.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Wednesday, October 24th. The semiconductor manufacturer reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. Advanced Micro Devices had a return on equity of 47.21% and a net margin of 5.51%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.10 earnings per share. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 0.35 earnings per share for the current fiscal year.

AMD has been the topic of a number of recent analyst reports. Craig Hallum lifted their price objective on Advanced Micro Devices from $21.00 to $27.00 and gave the stock a “buy” rating in a research note on Wednesday, November 7th. Morgan Stanley reiterated an “underweight” rating and issued a $28.00 price objective (up from $11.00) on shares of Advanced Micro Devices in a research note on Wednesday, September 19th. Cowen reiterated an “outperform” rating and issued a $33.00 price objective (up from $30.00) on shares of Advanced Micro Devices in a research note on Thursday, October 18th. MKM Partners lifted their target price on Advanced Micro Devices from $13.50 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Finally, BMO Capital Markets decreased their target price on Advanced Micro Devices from $20.00 to $18.00 and set a “market perform” rating on the stock in a research report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $23.65.

In other Advanced Micro Devices news, CEO Lisa T. Su sold 175,553 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, November 7th. The stock was sold at an average price of $21.73, for a total transaction of $3,814,766.69. Following the sale, the chief executive officer now directly owns 2,482,683 shares of the company’s stock, valued at $53,948,701.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Forrest Eugene Norrod sold 62,500 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, September 17th. The shares were sold at an average price of $32.51, for a total value of $2,031,875.00. Following the sale, the senior vice president now directly owns 955,790 shares in the company, valued at $31,072,732.90. The disclosure for this sale can be found here. Insiders have sold 579,890 shares of company stock worth $13,918,336 over the last ninety days. Company insiders own 1.80% of the company’s stock.

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About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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