IAM Advisory LLC Acquires New Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

IAM Advisory LLC acquired a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 16,339 shares of the semiconductor manufacturer’s stock, valued at approximately $1,710,000. Advanced Micro Devices makes up 0.7% of IAM Advisory LLC’s investment portfolio, making the stock its 16th largest holding.

Several other hedge funds have also made changes to their positions in the stock. Centaurus Financial Inc. grew its holdings in Advanced Micro Devices by 7.3% during the 2nd quarter. Centaurus Financial Inc. now owns 24,965 shares of the semiconductor manufacturer’s stock worth $2,345,000 after acquiring an additional 1,698 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in Advanced Micro Devices by 1.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 158,453 shares of the semiconductor manufacturer’s stock worth $14,883,000 after acquiring an additional 2,391 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Advanced Micro Devices by 13.5% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 224,099 shares of the semiconductor manufacturer’s stock worth $21,050,000 after acquiring an additional 26,728 shares in the last quarter. Rheos Capital Works Inc. acquired a new position in Advanced Micro Devices during the 2nd quarter worth approximately $18,974,000. Finally, Marshall Wace North America L.P. acquired a new position in Advanced Micro Devices during the 2nd quarter worth approximately $10,549,000. Hedge funds and other institutional investors own 67.06% of the company’s stock.

Shares of AMD stock opened at $157.80 on Thursday. The stock has a market cap of $190.56 billion, a price-to-earnings ratio of 48.85, a price-to-earnings-growth ratio of 1.41 and a beta of 2.02. Advanced Micro Devices, Inc. has a fifty-two week low of $72.50 and a fifty-two week high of $161.88. The firm’s 50 day moving average price is $122.38 and its two-hundred day moving average price is $103.36.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Monday, October 25th. The semiconductor manufacturer reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.06. Advanced Micro Devices had a net margin of 26.72% and a return on equity of 40.18%. The firm had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.11 billion. During the same period in the prior year, the company posted $0.35 earnings per share. The firm’s quarterly revenue was up 54.0% on a year-over-year basis. On average, research analysts anticipate that Advanced Micro Devices, Inc. will post 2.39 earnings per share for the current fiscal year.

In other news, SVP Forrest Eugene Norrod sold 25,500 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $158.15, for a total value of $4,032,825.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $105.72, for a total transaction of $13,215,000.00. Following the completion of the transaction, the chief executive officer now owns 2,816,603 shares in the company, valued at approximately $297,771,269.16. The disclosure for this sale can be found here. Insiders have sold 430,409 shares of company stock valued at $55,660,511 in the last 90 days. Insiders own 1.00% of the company’s stock.

AMD has been the subject of several recent analyst reports. Citigroup restated a “neutral” rating and set a $125.00 price objective (up previously from $100.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 27th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Advanced Micro Devices from $90.00 to $113.00 and gave the stock a “hold” rating in a research report on Wednesday, October 27th. JPMorgan Chase & Co. boosted their price objective on shares of Advanced Micro Devices from $105.00 to $135.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 27th. Craig Hallum upped their price target on shares of Advanced Micro Devices from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 27th. Finally, Bank of America upped their price target on shares of Advanced Micro Devices from $135.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, October 27th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Buy” and a consensus price target of $136.00.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.

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Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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