Texas Permanent School Fund cut its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 217,728 shares of the semiconductor manufacturer’s stock after selling 7,668 shares during the period. Texas Permanent School Fund’s holdings in Advanced Micro Devices were worth $2,717,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. acquired a new position in Advanced Micro Devices during the first quarter worth approximately $100,000. Intellectus Partners LLC acquired a new stake in Advanced Micro Devices during the first quarter worth $116,000. ING Groep NV acquired a new stake in Advanced Micro Devices during the first quarter worth $127,000. Bluestein R H & Co. acquired a new stake in Advanced Micro Devices during the first quarter worth $146,000. Finally, Harbor Advisors LLC bought a new stake in Advanced Micro Devices during the first quarter worth $146,000. Institutional investors own 56.37% of the company’s stock.
Advanced Micro Devices, Inc. (NASDAQ AMD) traded up 0.24% during trading on Friday, hitting $12.37. 37,521,694 shares of the company traded hands. Advanced Micro Devices, Inc. has a 52 week low of $5.66 and a 52 week high of $15.65. The stock’s market capitalization is $11.71 billion. The company’s 50 day moving average is $13.35 and its 200-day moving average is $12.92.
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. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. Advanced Micro Devices’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.05) earnings per share. Analysts predict that Advanced Micro Devices, Inc. will post $0.10 earnings per share for the current year.
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A number of analysts have weighed in on the stock. Bank of America Corporation reaffirmed a “buy” rating and set a $18.00 target price on shares of Advanced Micro Devices in a research note on Wednesday. Canaccord Genuity reaffirmed a “buy” rating and set a $20.00 target price on shares of Advanced Micro Devices in a research note on Tuesday. Wells Fargo & Company reissued an “outperform” rating on shares of Advanced Micro Devices in a research note on Thursday, August 10th. Barclays PLC reissued an “underweight” rating and issued a $9.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, August 10th. Finally, BidaskClub lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Advanced Micro Devices presently has an average rating of “Hold” and a consensus price target of $14.18.
In related news, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $525,600,000.00, for a total transaction of $21,024,000,000,000,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through 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 ninety days, insiders have sold 41,798,513 shares of company stock worth $21,024,000,023,167,700. 1.60% of the stock is owned by insiders.
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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