Westside Investment Management Inc. Makes New Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Westside Investment Management Inc. purchased a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 816 shares of the semiconductor manufacturer’s stock, valued at approximately $5,484,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC bought a new position in shares of Advanced Micro Devices in the first quarter worth approximately $25,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Advanced Micro Devices in the first quarter worth approximately $26,000. Advisory Alpha LLC bought a new position in shares of Advanced Micro Devices in the first quarter worth approximately $26,000. Peddock Capital Advisors LLC boosted its position in shares of Advanced Micro Devices by 151.5% in the first quarter. Peddock Capital Advisors LLC now owns 1,021 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 615 shares during the period. Finally, Berman Capital Advisors LLC boosted its position in shares of Advanced Micro Devices by 99.4% in the first quarter. Berman Capital Advisors LLC now owns 1,077 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 537 shares during the period. Institutional investors and hedge funds own 60.98% of the company’s stock.

Advanced Micro Devices stock traded down $0.42 during mid-day trading on Friday, reaching $29.44. 60,209,593 shares of the company’s stock traded hands, compared to its average volume of 55,749,428. The stock has a market capitalization of $32.41 billion, a P/E ratio of 84.11, a price-to-earnings-growth ratio of 2.36 and a beta of 3.06. The firm’s 50 day moving average price is $31.72. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.54 and a current ratio of 2.08. Advanced Micro Devices, Inc. has a 12-month low of $16.03 and a 12-month high of $34.86.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.08. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. Advanced Micro Devices had a net margin of 3.25% and a return on equity of 16.04%. Advanced Micro Devices’s revenue was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.14 earnings per share. As a group, sell-side analysts forecast that Advanced Micro Devices, Inc. will post 0.5 earnings per share for the current year.

In related news, SVP Paul Darren Grasby sold 6,000 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $28.39, for a total transaction of $170,340.00. Following the sale, the senior vice president now owns 22,979 shares of the company’s stock, valued at $652,373.81. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Devinder Kumar sold 127,735 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $32.05, for a total transaction of $4,093,906.75. Following the sale, the chief financial officer now directly owns 709,990 shares in the company, valued at approximately $22,755,179.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,045,137 shares of company stock worth $31,793,994. 1.50% of the stock is owned by insiders.

A number of research firms have weighed in on AMD. Nomura upped their price target on shares of Advanced Micro Devices from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. MKM Partners boosted their target price on shares of Advanced Micro Devices to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. JPMorgan Chase & Co. boosted their target price on shares of Advanced Micro Devices from $25.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday. Royal Bank of Canada set a $43.00 target price on shares of Advanced Micro Devices and gave the stock a “buy” rating in a report on Wednesday. Finally, Benchmark began coverage on shares of Advanced Micro Devices in a report on Thursday. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $31.08.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its 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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