CIBC World Markets Inc. reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 61.3% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,475 shares of the semiconductor manufacturer’s stock after selling 56,083 shares during the period. CIBC World Markets Inc.’s holdings in Advanced Micro Devices were worth $443,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. purchased a new stake in shares of Advanced Micro Devices during the 1st quarter valued at approximately $100,000. Bluestein R H & Co. purchased a new stake in shares of Advanced Micro Devices during the 1st quarter valued at approximately $146,000. Harbor Advisors LLC purchased a new stake in shares of Advanced Micro Devices during the 1st quarter valued at approximately $146,000. K.J. Harrison & Partners Inc purchased a new stake in shares of Advanced Micro Devices during the 2nd quarter valued at approximately $125,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Advanced Micro Devices during the 1st quarter valued at approximately $148,000. 59.11% of the stock is owned by hedge funds and other institutional investors.
AMD has been the topic of a number of recent research reports. Craig Hallum upped their price target on shares of Advanced Micro Devices from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, June 22nd. Canaccord Genuity upped their price target on shares of Advanced Micro Devices from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, June 21st. Wells Fargo & Company restated an “outperform” rating and set a $15.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 30th. Vetr upgraded shares of Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $15.99 price target on the stock in a research note on Monday, June 26th. Finally, Bank of America Corporation restated a “buy” rating and set a $16.50 price target on shares of Advanced Micro Devices in a research note on Friday, July 7th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $13.98.
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In other news, SVP James Robert Anderson sold 20,000 shares of the stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $14.19, for a total value of $283,800.00. Following the sale, the senior vice president now owns 442,363 shares of the company’s stock, valued at $6,277,130.97. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Darla M. Smith sold 8,172 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $12.85, for a total transaction of $105,010.20. Following the completion of the sale, the insider now directly owns 34,934 shares in the company, valued at approximately $448,901.90. The disclosure for this sale can be found here. In the last three months, insiders sold 42,074,793 shares of company stock worth $21,024,000,026,654,800. Insiders own 1.60% of the company’s stock.
Shares of Advanced Micro Devices, Inc. (AMD) opened at 13.12 on Wednesday. The company’s market cap is $12.42 billion. The firm has a 50-day moving average of $12.68 and a 200-day moving average of $12.78. Advanced Micro Devices, Inc. has a one year low of $6.14 and a one year high of $15.65. Advanced Micro Devices also saw some unusual options trading activity on Monday. Stock traders purchased 40,016 put options on the company. This is an increase of approximately 130% compared to the average volume of 17,387 put options.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.04. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Advanced Micro Devices’s revenue was up 19.0% on a year-over-year basis. Equities research analysts forecast that Advanced Micro Devices, Inc. will post $0.10 EPS for the current fiscal year.
About Advanced Micro Devices
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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