SeaCrest Wealth Management LLC lowered its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 9.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,443 shares of the semiconductor manufacturer’s stock after selling 3,487 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Advanced Micro Devices were worth $999,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMD. National Pension Service grew its holdings in shares of Advanced Micro Devices by 13.3% during the second quarter. National Pension Service now owns 1,360,300 shares of the semiconductor manufacturer’s stock worth $41,312,000 after buying an additional 159,600 shares in the last quarter. Lyons Wealth Management LLC. bought a new position in Advanced Micro Devices in the second quarter valued at approximately $669,000. Varma Mutual Pension Insurance Co bought a new position in Advanced Micro Devices in the third quarter valued at approximately $11,596,000. Oregon Public Employees Retirement Fund grew its stake in Advanced Micro Devices by 30.4% in the second quarter. Oregon Public Employees Retirement Fund now owns 259,473 shares of the semiconductor manufacturer’s stock valued at $7,880,000 after purchasing an additional 60,448 shares in the last quarter. Finally, Birinyi Associates Inc. bought a new position in Advanced Micro Devices in the second quarter valued at approximately $800,000. 62.45% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on AMD. Cowen set a $40.00 price target on Advanced Micro Devices and gave the company a “buy” rating in a research note on Wednesday, July 31st. Nomura set a $37.00 price target on Advanced Micro Devices and gave the company a “buy” rating in a research note on Friday, August 23rd. Benchmark initiated coverage on Advanced Micro Devices in a research note on Thursday, August 1st. They issued a “hold” rating for the company. Atlantic Securities initiated coverage on Advanced Micro Devices in a research note on Monday, July 22nd. They set a “neutral” rating and a $28.00 target price for the company. Finally, Morgan Stanley lifted their target price on 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. Three research analysts have rated the stock with a sell rating, nineteen have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $31.04.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 earnings per share 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 analysts’ expectations of $1.52 billion. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the firm posted $0.14 EPS. On average, analysts predict that Advanced Micro Devices, Inc. will post 0.48 EPS for the current fiscal year.
In related news, SVP Paul Darren Grasby sold 6,000 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $31.30, for a total transaction of $187,800.00. Following the completion of 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Darla M. Smith sold 8,388 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $33.53, for a total value of $281,249.64. Following the sale, the chief accounting officer now directly owns 35,918 shares of the company’s stock, valued at $1,204,330.54. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,686,908 shares of company stock valued at $54,473,503. 1.50% of the stock is currently owned by insiders.
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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