Meru Capital Group LP Purchases Shares of 235,000 Advanced Micro Devices, Inc. (AMD)
Meru Capital Group LP purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 235,000 shares of the semiconductor manufacturer’s stock, valued at approximately $2,996,000. Advanced Micro Devices accounts for approximately 9.1% of Meru Capital Group LP’s investment portfolio, making the stock its 7th largest position.
Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Advanced Micro Devices by 6.6% in the 2nd quarter. Vanguard Group Inc. now owns 93,092,619 shares of the semiconductor manufacturer’s stock worth $1,161,796,000 after buying an additional 5,797,819 shares in the last quarter. Baillie Gifford & Co. acquired a new position in Advanced Micro Devices in the 2nd quarter worth $184,767,000. CI Investments Inc. lifted its holdings in Advanced Micro Devices by 312.3% in the 3rd quarter. CI Investments Inc. now owns 7,322,893 shares of the semiconductor manufacturer’s stock worth $93,367,000 after buying an additional 5,546,993 shares in the last quarter. Legal & General Group Plc lifted its holdings in Advanced Micro Devices by 2.9% in the 3rd quarter. Legal & General Group Plc now owns 4,041,764 shares of the semiconductor manufacturer’s stock worth $51,531,000 after buying an additional 114,073 shares in the last quarter. Finally, American Century Companies Inc. acquired a new stake in shares of Advanced Micro Devices in the 3rd quarter valued at about $49,674,000. 60.02% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Darla M. Smith sold 27,288 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $11.13, for a total transaction of $303,715.44. Following the completion of the sale, the insider now directly owns 31,236 shares of the company’s stock, valued at $347,656.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Forrest Eugene Norrod sold 62,500 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $12.27, for a total transaction of $766,875.00. Following the sale, the senior vice president now directly owns 731,461 shares of the company’s stock, valued at $8,975,026.47. The disclosure for this sale can be found here. Insiders sold 1,274,783 shares of company stock valued at $15,346,419 over the last quarter. Insiders own 1.60% of the company’s stock.
A number of equities research analysts have recently issued reports on AMD shares. Jefferies Group restated a “buy” rating and issued a $19.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 25th. TheStreet upgraded shares of Advanced Micro Devices from a “d” rating to a “c-” rating in a research note on Tuesday, October 24th. Morgan Stanley downgraded shares of Advanced Micro Devices from an “equal weight” rating to an “underweight” rating and boosted their price objective for the company from $8.00 to $11.00 in a research report on Monday, October 30th. Canaccord Genuity reaffirmed a “buy” rating and set a $20.00 price objective on shares of Advanced Micro Devices in a research report on Friday, September 8th. Finally, Goldman Sachs Group lowered their price objective on shares of Advanced Micro Devices from $11.40 to $10.40 and set a “sell” rating for the company in a research report on Wednesday, November 29th. Seven analysts have rated the stock with a sell rating, fifteen have given a hold rating, ten 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 target price of $14.02.
Advanced Micro Devices, Inc. (NASDAQ AMD) opened at $9.91 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.20 and a debt-to-equity ratio of 2.61. Advanced Micro Devices, Inc. has a 1-year low of $8.82 and a 1-year high of $15.65.
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Advanced Micro Devices Company Profile
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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