Sanders Morris Harris LLC Increases Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Sanders Morris Harris LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 37.4% in the 2nd quarter, Holdings Channel reports. The fund owned 7,825 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,130 shares during the quarter. Sanders Morris Harris LLC’s holdings in Advanced Micro Devices were worth $411,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in shares of Advanced Micro Devices by 145.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 107,711 shares of the semiconductor manufacturer’s stock valued at $4,940,000 after purchasing an additional 63,809 shares during the period. Schroder Investment Management Group grew its holdings in Advanced Micro Devices by 63.6% in the fourth quarter. Schroder Investment Management Group now owns 9,638 shares of the semiconductor manufacturer’s stock valued at $442,000 after purchasing an additional 3,747 shares during the period. Panagora Asset Management Inc. grew its holdings in Advanced Micro Devices by 124.0% in the fourth quarter. Panagora Asset Management Inc. now owns 151,817 shares of the semiconductor manufacturer’s stock valued at $6,962,000 after purchasing an additional 84,033 shares during the period. Vestcor Investment Management Corp purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $886,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Advanced Micro Devices by 38.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,150 shares of the semiconductor manufacturer’s stock worth $2,483,000 after buying an additional 14,925 shares during the period. 69.79% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein reiterated a “hold” rating on shares of Advanced Micro Devices in a research note on Thursday, April 16th. UBS Group boosted their price objective on shares of Advanced Micro Devices from $48.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Argus boosted their price objective on shares of Advanced Micro Devices from $60.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, April 30th. Bank of America reiterated a “buy” rating on shares of Advanced Micro Devices in a research note on Tuesday. Finally, Wedbush restated a “buy” rating on shares of Advanced Micro Devices in a research note on Thursday, April 30th. One research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.47.

Shares of NASDAQ:AMD traded up $2.40 on Thursday, reaching $55.83. 14,066,237 shares of the company’s stock were exchanged, compared to its average volume of 47,999,576. The firm has a market capitalization of $62.58 billion, a price-to-earnings ratio of 124.26, a PEG ratio of 1.59 and a beta of 2.14. Advanced Micro Devices, Inc. has a fifty-two week low of $27.43 and a fifty-two week high of $59.27. The business’s 50-day moving average is $53.46 and its two-hundred day moving average is $50.30. The company has a quick ratio of 1.68, a current ratio of 2.21 and a debt-to-equity ratio of 0.16.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, April 28th. The semiconductor manufacturer reported $0.18 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.18. The company had revenue of $1.79 billion for the quarter, compared to analysts’ expectations of $1.79 billion. Advanced Micro Devices had a net margin of 6.72% and a return on equity of 28.28%. The firm’s revenue was up 40.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Analysts predict that Advanced Micro Devices, Inc. will post 0.83 earnings per share for the current fiscal year.

In other news, EVP Mark D. Papermaster sold 43,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $52.90, for a total transaction of $2,274,700.00. Following the completion of the transaction, the executive vice president now owns 1,378,280 shares in the company, valued at $72,911,012. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Forrest Eugene Norrod sold 75,000 shares of the company’s stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $57.06, for a total transaction of $4,279,500.00. Following the transaction, the senior vice president now owns 827,100 shares of the company’s stock, valued at approximately $47,194,326. The disclosure for this sale can be found here. Insiders have sold 461,000 shares of company stock valued at $25,495,320 in the last 90 days. Insiders own 1.50% of the company’s stock.

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

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