Meadow Creek Investment Management LLC Reduces Stake in Advanced Micro Devices, Inc. (AMD)

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Meadow Creek Investment Management LLC trimmed its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 9.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 51,436 shares of the semiconductor manufacturer’s stock after selling 5,320 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Advanced Micro Devices were worth $771,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in AMD. Alps Advisors Inc. increased its position in Advanced Micro Devices by 19.5% in the 1st quarter. Alps Advisors Inc. now owns 37,282 shares of the semiconductor manufacturer’s stock valued at $375,000 after acquiring an additional 6,077 shares during the period. Oppenheimer & Co. Inc. increased its position in Advanced Micro Devices by 13.8% in the 1st quarter. Oppenheimer & Co. Inc. now owns 80,812 shares of the semiconductor manufacturer’s stock valued at $812,000 after acquiring an additional 9,824 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in Advanced Micro Devices by 0.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,305,153 shares of the semiconductor manufacturer’s stock valued at $23,167,000 after acquiring an additional 15,367 shares during the period. Zeke Capital Advisors LLC acquired a new stake in Advanced Micro Devices in the 1st quarter valued at approximately $262,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Advanced Micro Devices by 10.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 188,870 shares of the semiconductor manufacturer’s stock valued at $1,898,000 after acquiring an additional 17,800 shares during the period. Institutional investors and hedge funds own 65.92% of the company’s stock.

AMD opened at $27.84 on Friday. The firm has a market cap of $27.79 billion, a PE ratio of 83.85, a P/E/G ratio of 5.59 and a beta of 3.16. 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, Inc. has a fifty-two week low of $9.04 and a fifty-two week high of $29.94.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data 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 business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.72 billion. Advanced Micro Devices had a return on equity of 52.84% and a net margin of 5.04%. The company’s revenue was up 52.6% compared to the same quarter last year. During the same period last year, the company posted $0.02 EPS. equities research analysts forecast that Advanced Micro Devices, Inc. will post 0.36 earnings per share for the current fiscal year.

In other news, insider Mark D. Papermaster sold 20,066 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was sold at an average price of $19.14, for a total value of $384,063.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mubadala Investment Co Pjsc sold 22,000,000 shares of the firm’s stock in a transaction on Monday, July 30th. The stock was sold at an average price of $19.33, for a total value of $425,260,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,965,929 shares of company stock valued at $483,438,771. Corporate insiders own 1.80% of the company’s stock.

Several analysts recently commented on AMD shares. Goldman Sachs Group upgraded Advanced Micro Devices from a “sell” rating to a “neutral” rating and raised their target price for the company from $13.25 to $21.00 in a research report on Friday, August 10th. Wells Fargo & Co restated a “buy” rating on shares of Advanced Micro Devices in a research report on Thursday, July 26th. Rosenblatt Securities restated a “buy” rating and issued a $30.00 target price (up from $27.00) on shares of Advanced Micro Devices in a research report on Thursday, August 23rd. Bank of America increased their price target on Advanced Micro Devices to $25.00 and gave the company an “average” rating in a research note on Monday, August 6th. Finally, Barclays lowered Advanced Micro Devices from an “equal weight” rating to an “underweight” rating and set a $15.00 price target for the company. in a research note on Monday, August 6th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the stock. Advanced Micro Devices currently has a consensus rating of “Hold” and an average target price of $17.98.

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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