Essex Investment Management Co. LLC Acquires New Stake in Advanced Micro Devices, Inc. (AMD)

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Essex Investment Management Co. LLC acquired a new stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,326 shares of the semiconductor manufacturer’s stock, valued at approximately $381,000.

Other hedge funds have also added to or reduced their stakes in the company. Swedbank bought a new position in Advanced Micro Devices during the third quarter valued at $152,865,000. State of Wisconsin Investment Board lifted its position in Advanced Micro Devices by 7.4% during the second quarter. State of Wisconsin Investment Board now owns 1,061,554 shares of the semiconductor manufacturer’s stock valued at $15,913,000 after purchasing an additional 73,081 shares during the last quarter. OmniStar Financial Group Inc. bought a new position in Advanced Micro Devices during the second quarter valued at $316,000. Barometer Capital Management Inc. bought a new position in Advanced Micro Devices during the third quarter valued at $3,265,000. Finally, Renaissance Technologies LLC lifted its position in Advanced Micro Devices by 541.5% during the second quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock valued at $111,336,000 after purchasing an additional 6,269,500 shares during the last quarter. Institutional investors and hedge funds own 66.16% of the company’s stock.

Several research firms have commented on AMD. Stifel Nicolaus increased their price objective on shares of Advanced Micro Devices from $17.00 to $21.00 and gave the company a “buy” rating in a research report on Monday, July 16th. Benchmark began coverage on shares of Advanced Micro Devices in a research report on Tuesday, June 26th. They set a “hold” rating for the company. They noted that the move was a valuation call. BidaskClub upgraded shares of Advanced Micro Devices from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 15th. Royal Bank of Canada began coverage on shares of Advanced Micro Devices in a research report on Monday, September 24th. They set an “outperform” rating and a $40.00 price objective for the company. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $30.00 price objective (up previously from $27.00) on shares of Advanced Micro Devices in a research report on Thursday, August 23rd. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $23.48.

In related news, SVP James Robert Anderson sold 22,687 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $19.14, for a total value of $434,229.18. Following the transaction, the senior vice president now owns 355,577 shares of the company’s stock, valued at approximately $6,805,743.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark D. Papermaster sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $26.17, for a total transaction of $1,308,500.00. Following the completion of the transaction, the insider now directly owns 1,262,198 shares in the company, valued at approximately $33,031,721.66. The disclosure for this sale can be found here. Insiders sold a total of 24,802,900 shares of company stock worth $486,187,496 in the last ninety days. 1.80% of the stock is currently owned by insiders.

AMD stock opened at $23.66 on Friday. The stock has a market capitalization of $25.95 billion, a P/E ratio of 295.75, a P/E/G ratio of 5.00 and a beta of 3.11. Advanced Micro Devices, Inc. has a 12 month low of $9.04 and a 12 month high of $34.14. The company has a current ratio of 1.66, a quick ratio of 1.26 and a debt-to-equity ratio of 1.33.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Wednesday, July 25th. The semiconductor manufacturer reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.72 billion. Advanced Micro Devices had a net margin of 5.04% and a return on equity of 52.84%. The firm’s revenue was up 52.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.02 EPS. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 0.38 EPS for the current fiscal year.

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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