Arrowstreet Capital Limited Partnership Decreases Stock Position in Advanced Micro Devices, Inc. $AMD

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 47.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 144,650 shares of the semiconductor manufacturer’s stock after selling 130,860 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Advanced Micro Devices were worth $20,526,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Cornerstone Advisory LLC increased its holdings in Advanced Micro Devices by 1.4% in the 2nd quarter. Cornerstone Advisory LLC now owns 4,271 shares of the semiconductor manufacturer’s stock worth $606,000 after buying an additional 57 shares in the last quarter. King Wealth Management Group lifted its stake in Advanced Micro Devices by 2.1% during the 2nd quarter. King Wealth Management Group now owns 3,017 shares of the semiconductor manufacturer’s stock valued at $428,000 after acquiring an additional 62 shares during the period. Tortoise Investment Management LLC boosted its holdings in shares of Advanced Micro Devices by 14.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 503 shares of the semiconductor manufacturer’s stock valued at $71,000 after acquiring an additional 65 shares during the last quarter. Tritonpoint Wealth LLC boosted its holdings in shares of Advanced Micro Devices by 2.6% during the 2nd quarter. Tritonpoint Wealth LLC now owns 2,857 shares of the semiconductor manufacturer’s stock valued at $405,000 after acquiring an additional 72 shares during the last quarter. Finally, Avion Wealth grew its stake in shares of Advanced Micro Devices by 49.3% in the second quarter. Avion Wealth now owns 218 shares of the semiconductor manufacturer’s stock worth $30,000 after acquiring an additional 72 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

AMD has been the topic of a number of research analyst reports. Raymond James Financial started coverage on shares of Advanced Micro Devices in a research report on Thursday, November 20th. They set an “outperform” rating and a $377.00 price objective on the stock. Wall Street Zen upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. HSBC raised their price target on Advanced Micro Devices from $185.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, October 15th. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a report on Wednesday, October 8th. Finally, Mizuho increased their target price on Advanced Micro Devices from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Wednesday, November 12th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $278.54.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,108 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $240.12, for a total value of $4,107,972.96. Following the completion of the transaction, the executive vice president owned 1,714,505 shares of the company’s stock, valued at approximately $411,686,940.60. This represents a 0.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 19,450 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $229.37, for a total value of $4,461,246.50. Following the completion of the sale, the executive vice president owned 300,348 shares of the company’s stock, valued at $68,890,820.76. The trade was a 6.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 75,676 shares of company stock worth $16,124,589. 0.06% of the stock is owned by corporate insiders.

Advanced Micro Devices Trading Up 0.9%

Advanced Micro Devices stock opened at $217.97 on Monday. Advanced Micro Devices, Inc. has a 12-month low of $76.48 and a 12-month high of $267.08. The firm has a market capitalization of $354.86 billion, a price-to-earnings ratio of 107.91, a P/E/G ratio of 1.61 and a beta of 1.93. The firm has a 50 day moving average of $225.61 and a 200 day moving average of $176.25. The company has a current ratio of 2.31, a quick ratio of 1.68 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, November 4th. The semiconductor manufacturer reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.03. The business had revenue of $9.25 billion for the quarter, compared to the consensus estimate of $8.76 billion. Advanced Micro Devices had a net margin of 10.32% and a return on equity of 8.04%. The company’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.92 earnings per share. As a group, research analysts predict that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.