Sumitomo Mitsui Trust Holdings Inc. Decreases Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 14.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,677,620 shares of the semiconductor manufacturer’s stock after selling 626,750 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Advanced Micro Devices were worth $111,689,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. OppenheimerFunds Inc. raised its position in Advanced Micro Devices by 1.0% in the 1st quarter. OppenheimerFunds Inc. now owns 24,489,979 shares of the semiconductor manufacturer’s stock worth $624,984,000 after purchasing an additional 254,425 shares during the period. Artisan Partners Limited Partnership raised its position in Advanced Micro Devices by 66.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 14,941,422 shares of the semiconductor manufacturer’s stock worth $381,305,000 after purchasing an additional 5,991,132 shares during the period. Geode Capital Management LLC raised its position in Advanced Micro Devices by 14.5% in the 4th quarter. Geode Capital Management LLC now owns 13,069,235 shares of the semiconductor manufacturer’s stock worth $240,885,000 after purchasing an additional 1,651,507 shares during the period. Northern Trust Corp raised its position in Advanced Micro Devices by 1.6% in the 1st quarter. Northern Trust Corp now owns 10,131,101 shares of the semiconductor manufacturer’s stock worth $258,546,000 after purchasing an additional 161,453 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its position in Advanced Micro Devices by 4.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 6,112,632 shares of the semiconductor manufacturer’s stock worth $155,993,000 after purchasing an additional 275,365 shares during the period. Hedge funds and other institutional investors own 60.91% of the company’s stock.

A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Tuesday, April 16th. Morgan Stanley upped their target price on shares of Advanced Micro Devices from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Barclays upped their target price on shares of Advanced Micro Devices from $26.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. MKM Partners upped their target price on shares of Advanced Micro Devices to $28.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Bank of America upped their target price on shares of Advanced Micro Devices from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $31.08.

In other Advanced Micro Devices news, SVP Paul Darren Grasby sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $28.39, for a total value of $170,340.00. Following the completion of the sale, the senior vice president now directly owns 22,979 shares in the company, valued at $652,373.81. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark D. Papermaster sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $26.86, for a total transaction of $805,800.00. Following the completion of the sale, the executive vice president now owns 1,329,588 shares of the company’s stock, valued at $35,712,733.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 795,137 shares of company stock worth $25,106,494. Insiders own 1.50% of the company’s stock.

Shares of NASDAQ AMD traded up $0.96 during midday trading on Friday, reaching $34.88. 70,414,868 shares of the company’s stock traded hands, compared to its average volume of 58,260,436. 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’s 50 day moving average is $31.67. Advanced Micro Devices, Inc. has a one year low of $16.03 and a one year high of $34.86. The stock has a market cap of $31.33 billion, a P/E ratio of 99.65, a price-to-earnings-growth ratio of 2.45 and a beta of 3.06.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data 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. Advanced Micro Devices had a net margin of 3.25% and a return on equity of 16.04%. The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.52 billion. During the same period last year, the firm earned $0.14 earnings per share. The company’s quarterly revenue was down 12.8% on a year-over-year basis. Equities analysts predict that Advanced Micro Devices, Inc. will post 0.5 EPS for the current fiscal year.

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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