Advanced Micro Devices, Inc. (AMD) Position Lessened by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 96.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,300 shares of the semiconductor manufacturer’s stock after selling 442,847 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Advanced Micro Devices were worth $214,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP grew its position in Advanced Micro Devices by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,195,332 shares of the semiconductor manufacturer’s stock valued at $22,063,000 after acquiring an additional 38,549 shares in the last quarter. Russell Investments Group Ltd. grew its position in Advanced Micro Devices by 47.8% in the 1st quarter. Russell Investments Group Ltd. now owns 853,383 shares of the semiconductor manufacturer’s stock valued at $8,565,000 after acquiring an additional 276,108 shares in the last quarter. Asset Management One Co. Ltd. grew its position in Advanced Micro Devices by 0.4% in the 1st quarter. Asset Management One Co. Ltd. now owns 1,233,519 shares of the semiconductor manufacturer’s stock valued at $12,397,000 after acquiring an additional 4,875 shares in the last quarter. BB&T Securities LLC acquired a new position in Advanced Micro Devices in the 1st quarter valued at about $279,000. Finally, Baird Financial Group Inc. acquired a new position in Advanced Micro Devices in the 1st quarter valued at about $202,000. 65.96% of the stock is owned by hedge funds and other institutional investors.

AMD stock opened at $26.46 on Tuesday. The company has a market cap of $30.11 billion, a P/E ratio of 341.88, a price-to-earnings-growth ratio of 6.00 and a beta of 3.10. Advanced Micro Devices, Inc. has a fifty-two week low of $9.04 and a fifty-two week high of $34.14. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.66 and a quick ratio of 1.26.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Wednesday, July 25th. The semiconductor manufacturer reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Advanced Micro Devices had a return on equity of 52.84% and a net margin of 5.04%. The firm’s revenue was up 52.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.02 earnings per share. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 0.37 earnings per share for the current fiscal year.

In other Advanced Micro Devices news, insider Mark D. Papermaster sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $32.51, for a total value of $1,625,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lisa T. Su sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $19.41, for a total value of $3,882,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,760,400 shares of company stock valued at $484,346,146. 1.80% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on AMD shares. Stifel Nicolaus lifted their price objective on Advanced Micro Devices from $21.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, September 19th. Cowen lifted their price objective on Advanced Micro Devices from $25.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, September 4th. Robert W. Baird cut Advanced Micro Devices from an “outperform” rating to a “neutral” rating and lifted their price objective for the company from $20.00 to $28.00 in a research note on Monday, October 1st. They noted that the move was a valuation call. Rosenblatt Securities lifted their price objective on Advanced Micro Devices from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Tuesday, September 11th. Finally, Goldman Sachs Group upgraded Advanced Micro Devices from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $13.25 to $21.00 in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $23.58.

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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