The Manufacturers Life Insurance Company trimmed its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 45.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 884,232 shares of the semiconductor manufacturer’s stock after selling 730,397 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.09% of Advanced Micro Devices worth $11,036,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. K.J. Harrison & Partners Inc purchased a new position in Advanced Micro Devices in the 2nd quarter worth approximately $125,000. Regal Investment Advisors LLC purchased a new position in Advanced Micro Devices in the 2nd quarter worth approximately $137,000. Mackenzie Financial Corp purchased a new position in Advanced Micro Devices in the 1st quarter worth approximately $161,000. Global X Management Co. LLC purchased a new position in Advanced Micro Devices in the 2nd quarter worth approximately $143,000. Finally, IBM Retirement Fund purchased a new position in Advanced Micro Devices in the 2nd quarter worth approximately $153,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

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AMD has been the subject of a number of recent analyst reports. Vetr upgraded shares of Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $15.99 price objective for the company in a report on Monday, June 26th. Jefferies Group LLC restated a “top pick” rating and issued a $13.74 price objective (down from $19.00) on shares of Advanced Micro Devices in a report on Thursday, September 21st. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Advanced Micro Devices in a report on Friday, July 28th. Robert W. Baird initiated coverage on shares of Advanced Micro Devices in a report on Wednesday, July 26th. They issued an “outperform” rating and a $20.00 price objective for the company. Finally, MKM Partners restated a “neutral” rating and issued a $13.00 price objective on shares of Advanced Micro Devices in a report on Friday, July 21st. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. Advanced Micro Devices currently has a consensus rating of “Hold” and an average price target of $13.93.

Shares of Advanced Micro Devices, Inc. (AMD) opened at 13.81 on Friday. The firm has a 50-day moving average of $13.18 and a 200 day moving average of $12.74. The stock’s market cap is $13.08 billion. Advanced Micro Devices, Inc. has a 52 week low of $6.22 and a 52 week high of $15.65.

Advanced Micro Devices (NASDAQ:AMD) last announced 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 for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business earned ($0.05) earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities analysts forecast that Advanced Micro Devices, Inc. will post $0.10 EPS for the current fiscal year.

In related news, CEO Lisa T. Su sold 82,709 shares of the business’s stock in a transaction dated Monday, October 9th. The shares were sold at an average price of $13.62, for a total transaction of $1,126,496.58. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP James Robert Anderson sold 20,000 shares of the business’s stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $13.91, for a total transaction of $278,200.00. Following the transaction, the senior vice president now owns 422,363 shares in the company, valued at $5,875,069.33. The disclosure for this sale can be found here. Insiders have sold 42,157,502 shares of company stock worth $21,024,000,027,762,700 over the last 90 days. 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.

Institutional Ownership by Quarter for Advanced Micro Devices (NASDAQ:AMD)

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