CIBC Asset Management Inc Trims Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

CIBC Asset Management Inc reduced its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 474,456 shares of the semiconductor manufacturer’s stock after selling 57,925 shares during the period. CIBC Asset Management Inc’s holdings in Advanced Micro Devices were worth $76,962,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cherrydale Wealth Management LLC grew its stake in shares of Advanced Micro Devices by 4.7% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after purchasing an additional 58 shares during the period. Prentice Wealth Management LLC grew its position in Advanced Micro Devices by 1.6% during the first quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock valued at $711,000 after buying an additional 62 shares during the period. Revolve Wealth Partners LLC increased its holdings in Advanced Micro Devices by 0.9% in the first quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock valued at $1,314,000 after buying an additional 63 shares in the last quarter. Delta Financial Group Inc. raised its position in shares of Advanced Micro Devices by 5.0% in the second quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after acquiring an additional 63 shares during the period. Finally, Integrated Advisors Network LLC boosted its stake in shares of Advanced Micro Devices by 0.3% during the 4th quarter. Integrated Advisors Network LLC now owns 18,944 shares of the semiconductor manufacturer’s stock worth $2,793,000 after acquiring an additional 65 shares in the last quarter. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

NASDAQ AMD traded up $3.07 during mid-day trading on Monday, hitting $148.56. The stock had a trading volume of 31,169,000 shares, compared to its average volume of 62,049,477. The company has a 50 day simple moving average of $153.31 and a 200 day simple moving average of $163.95. The company has a market cap of $240.44 billion, a price-to-earnings ratio of 218.47, a P/E/G ratio of 2.03 and a beta of 1.69. Advanced Micro Devices, Inc. has a 52-week low of $93.11 and a 52-week high of $227.30. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at approximately $285,278,881.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $158.94, for a total value of $2,574,828.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $245,757,319.38. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on AMD shares. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Bank of America decreased their price target on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. TD Cowen reaffirmed a “buy” rating and set a $210.00 price objective on shares of Advanced Micro Devices in a research note on Monday, August 19th. Morgan Stanley raised their target price on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Cantor Fitzgerald cut their price target on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $193.45.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.