Profund Advisors LLC Cuts Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

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Profund Advisors LLC lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.0% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 116,037 shares of the semiconductor manufacturer’s stock after selling 7,427 shares during the period. Profund Advisors LLC’s holdings in Advanced Micro Devices were worth $3,524,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. OppenheimerFunds Inc. grew its position in shares of Advanced Micro Devices by 1.0% during the first quarter. OppenheimerFunds Inc. now owns 24,489,979 shares of the semiconductor manufacturer’s stock valued at $624,984,000 after purchasing an additional 254,425 shares in the last quarter. Artisan Partners Limited Partnership grew its position in shares of Advanced Micro Devices by 66.9% during the first quarter. Artisan Partners Limited Partnership now owns 14,941,422 shares of the semiconductor manufacturer’s stock valued at $381,305,000 after purchasing an additional 5,991,132 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Advanced Micro Devices by 14.5% during the fourth quarter. Geode Capital Management LLC now owns 13,069,235 shares of the semiconductor manufacturer’s stock valued at $240,885,000 after purchasing an additional 1,651,507 shares in the last quarter. Northern Trust Corp grew its position in shares of Advanced Micro Devices by 2.4% during the second quarter. Northern Trust Corp now owns 10,377,326 shares of the semiconductor manufacturer’s stock valued at $315,158,000 after purchasing an additional 246,225 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. grew its position in shares of Advanced Micro Devices by 4.7% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 6,112,632 shares of the semiconductor manufacturer’s stock valued at $155,993,000 after purchasing an additional 275,365 shares in the last quarter. Institutional investors and hedge funds own 64.73% of the company’s stock.

NASDAQ AMD traded up $0.43 during trading on Friday, hitting $30.64. The stock had a trading volume of 1,828,388 shares, compared to its average volume of 55,156,428. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.52 and a current ratio of 2.08. The stock has a market capitalization of $32.82 billion, a price-to-earnings ratio of 87.59, a P/E/G ratio of 2.64 and a beta of 3.07. Advanced Micro Devices, Inc. has a one year low of $16.03 and a one year high of $35.55. The stock has a 50 day simple moving average of $31.33 and a 200 day simple moving average of $28.91.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. The business had revenue of $1.53 billion during 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%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 earnings per share. On average, sell-side analysts predict that Advanced Micro Devices, Inc. will post 0.48 EPS for the current year.

In other news, insider Mark D. Papermaster sold 30,000 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $33.34, for a total transaction of $1,000,200.00. Following the completion of the sale, the insider now owns 1,329,588 shares of the company’s stock, valued at $44,328,463.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Paul Darren Grasby sold 6,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $31.30, for a total transaction of $187,800.00. Following the sale, the senior vice president now directly owns 33,113 shares of the company’s stock, valued at approximately $1,036,436.90. The disclosure for this sale can be found here. In the last three months, insiders sold 1,686,908 shares of company stock valued at $54,566,203. 1.50% of the stock is owned by insiders.

A number of research analysts have recently weighed in on the company. Piper Jaffray Companies assumed coverage on Advanced Micro Devices in a research report on Monday, August 19th. They set a “neutral” rating and a $33.00 price objective for the company. Morgan Stanley increased their price target on shares of Advanced Micro Devices from $28.00 to $30.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 price target (up previously from $43.00) on shares of Advanced Micro Devices in a report on Sunday, August 11th. Benchmark assumed coverage on shares of Advanced Micro Devices in a report on Thursday, August 1st. They issued a “hold” rating for the company. Finally, Credit Suisse Group set a $30.00 price target on shares of Advanced Micro Devices and gave the company a “neutral” rating in a report on Wednesday, July 31st. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $31.27.

About Advanced Micro Devices

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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