Varma Mutual Pension Insurance Co Makes New $11.60 Million Investment in Advanced Micro Devices, Inc. (NASDAQ:AMD)

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Varma Mutual Pension Insurance Co bought a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 400,000 shares of the semiconductor manufacturer’s stock, valued at approximately $11,596,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. grew its stake in Advanced Micro Devices by 31.2% during the third quarter. Pacer Advisors Inc. now owns 191,012 shares of the semiconductor manufacturer’s stock worth $5,537,000 after purchasing an additional 45,437 shares during the period. We Are One Seven LLC acquired a new stake in Advanced Micro Devices during the third quarter worth approximately $269,000. Crossmark Global Holdings Inc. grew its stake in Advanced Micro Devices by 1.5% during the third quarter. Crossmark Global Holdings Inc. now owns 93,361 shares of the semiconductor manufacturer’s stock worth $2,707,000 after purchasing an additional 1,403 shares during the period. Altman Advisors Inc. grew its stake in Advanced Micro Devices by 20.9% during the third quarter. Altman Advisors Inc. now owns 59,021 shares of the semiconductor manufacturer’s stock worth $1,711,000 after purchasing an additional 10,200 shares during the period. Finally, Gulf International Bank UK Ltd grew its stake in Advanced Micro Devices by 19.0% during the third quarter. Gulf International Bank UK Ltd now owns 252,436 shares of the semiconductor manufacturer’s stock worth $7,318,000 after purchasing an additional 40,338 shares during the period. 62.45% of the stock is owned by institutional investors and hedge funds.

In other Advanced Micro Devices news, SVP Forrest Eugene Norrod sold 50,000 shares of Advanced Micro Devices stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $34.12, for a total transaction of $1,706,000.00. Following the completion of the sale, the senior vice president now owns 809,171 shares of the company’s stock, valued at $27,608,914.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Darla M. Smith sold 8,388 shares of Advanced Micro Devices stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $33.53, for a total value of $281,249.64. Following the sale, the chief accounting officer now directly owns 35,918 shares of the company’s stock, valued at approximately $1,204,330.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,686,908 shares of company stock valued at $54,473,503. Corporate insiders own 1.50% of the company’s stock.

NASDAQ:AMD opened at $30.30 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.08 and a quick ratio of 1.52. The business has a fifty day simple moving average of $29.98 and a two-hundred day simple moving average of $29.79. Advanced Micro Devices, Inc. has a 1 year low of $16.03 and a 1 year high of $35.55. The company has a market capitalization of $33.14 billion, a P/E ratio of 86.57, a P/E/G ratio of 2.60 and a beta of 2.99.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.14 earnings per share. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 0.48 earnings per share for the current year.

Several research analysts have issued reports on AMD shares. Nomura set a $37.00 price target on Advanced Micro Devices and gave the stock a “buy” rating in a report on Friday, August 23rd. Deutsche Bank reiterated a “hold” rating and issued a $29.00 price target (up previously from $25.00) on shares of Advanced Micro Devices in a report on Tuesday, July 30th. Craig Hallum lowered Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $33.00 price target on the stock. in a report on Wednesday, July 31st. JPMorgan Chase & Co. increased their price target on Advanced Micro Devices from $25.00 to $33.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $44.00 price target (up previously from $43.00) on shares of Advanced Micro Devices in a report on Sunday, August 11th. Three analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.04.

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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