Pacad Investment Ltd. Invests $10.77 Million in Advanced Micro Devices, Inc. (AMD)
Pacad Investment Ltd. bought a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 863,168 shares of the semiconductor manufacturer’s stock, valued at approximately $10,772,000. Advanced Micro Devices accounts for approximately 1.6% of Pacad Investment Ltd.’s portfolio, making the stock its 4th largest position. Pacad Investment Ltd. owned 0.09% of Advanced Micro Devices as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of AMD. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 21.9% in the first quarter. Vanguard Group Inc. now owns 87,294,800 shares of the semiconductor manufacturer’s stock worth $1,270,140,000 after buying an additional 15,661,774 shares during the last quarter. Wellington Management Group LLP increased its stake in Advanced Micro Devices by 5,764.6% in the first quarter. Wellington Management Group LLP now owns 14,181,305 shares of the semiconductor manufacturer’s stock worth $206,339,000 after buying an additional 13,939,494 shares during the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Advanced Micro Devices during the first quarter worth approximately $63,654,000. Marshall Wace North America L.P. purchased a new stake in Advanced Micro Devices during the first quarter worth approximately $63,654,000. Finally, Russell Investments Group Ltd. increased its stake in Advanced Micro Devices by 3,444.8% in the second quarter. Russell Investments Group Ltd. now owns 3,373,388 shares of the semiconductor manufacturer’s stock worth $42,109,000 after buying an additional 3,278,224 shares during the last quarter. Institutional investors own 59.15% of the company’s stock.
Advanced Micro Devices, Inc. (NASDAQ:AMD) traded up 2.76% during midday trading on Thursday, hitting $13.02. The stock had a trading volume of 24,251,295 shares. The stock’s market cap is $12.33 billion. Advanced Micro Devices, Inc. has a 12-month low of $5.66 and a 12-month high of $15.65. The company’s 50-day moving average price is $13.28 and its 200 day moving average price is $12.93. Advanced Micro Devices also was the target of some unusual options trading activity on Wednesday. Stock investors purchased 124,344 call options on the stock. This represents an increase of 204% compared to the typical volume of 40,889 call options.
Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.04. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the business posted ($0.05) EPS. Advanced Micro Devices’s revenue was up 19.0% on a year-over-year basis. On average, equities research analysts predict that Advanced Micro Devices, Inc. will post $0.10 earnings per share for the current fiscal year.
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A number of analysts have commented on AMD shares. Craig Hallum boosted their target price on Advanced Micro Devices from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Bank of America Corporation restated a “buy” rating on shares of Advanced Micro Devices in a research report on Tuesday, May 9th. Canaccord Genuity upped their price objective on Advanced Micro Devices from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, June 21st. Wells Fargo & Company restated an “outperform” rating and issued a $15.00 price objective on shares of Advanced Micro Devices in a research report on Friday, June 30th. Finally, Vetr upgraded Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $15.99 price objective on the stock in a research report on Monday, June 26th. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $14.18.
In related news, SVP Harry A. Wolin sold 46,875 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $12.75, for a total value of $597,656.25. Following the completion of the sale, the senior vice president now directly owns 834,549 shares in the company, valued at approximately $10,640,499.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Forrest Eugene Norrod sold 62,500 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $13.21, for a total transaction of $825,625.00. Following the completion of the sale, the senior vice president now owns 646,061 shares of the company’s stock, valued at $8,534,465.81. The disclosure for this sale can be found here. Insiders sold a total of 41,956,790 shares of company stock valued at $21,024,000,025,260,100 over the last quarter. 1.60% of the stock is currently owned by company 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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