Voloridge Investment Management LLC Takes $70.35 Million Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Voloridge Investment Management LLC purchased a new stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 896,231 shares of the semiconductor manufacturer’s stock, valued at approximately $70,354,000. Advanced Micro Devices makes up approximately 0.5% of Voloridge Investment Management LLC’s investment portfolio, making the stock its 27th largest holding.

Other institutional investors have also recently modified their holdings of the company. tru Independence LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $19,261,000. Total Clarity Wealth Management Inc. bought a new stake in shares of Advanced Micro Devices in the first quarter valued at about $27,000. Sittner & Nelson LLC bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at about $32,000. Hartford Financial Management Inc. lifted its holdings in shares of Advanced Micro Devices by 250.0% in the first quarter. Hartford Financial Management Inc. now owns 350 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 250 shares in the last quarter. Finally, Tradition Wealth Management LLC increased its position in shares of Advanced Micro Devices by 680.0% in the first quarter. Tradition Wealth Management LLC now owns 390 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 340 shares during the last quarter. Institutional investors own 67.57% of the company’s stock.

A number of research firms recently issued reports on AMD. Mizuho lifted their target price on Advanced Micro Devices from $105.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, April 28th. Citigroup raised Advanced Micro Devices from a “sell” rating to a “neutral” rating and lifted their target price for the company from $17.00 to $95.00 in a research report on Thursday, July 15th. Benchmark began coverage on Advanced Micro Devices in a research report on Friday, May 28th. They set a “buy” rating and a $100.00 price target on the stock. KeyCorp began coverage on Advanced Micro Devices in a research report on Thursday, May 20th. They set a “sector weight” rating on the stock. Finally, Northland Securities boosted their price target on Advanced Micro Devices from $96.00 to $116.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $96.69.

In related news, SVP Forrest Eugene Norrod sold 79,183 shares of the stock in a transaction on Thursday, April 29th. The stock was sold at an average price of $84.23, for a total value of $6,669,584.09. Following the completion of the sale, the senior vice president now directly owns 329,141 shares in the company, valued at $27,723,546.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Darla M. Smith sold 1,055 shares of the stock in a transaction on Tuesday, May 11th. The shares were sold at an average price of $73.39, for a total value of $77,426.45. The disclosure for this sale can be found here. Insiders have sold 523,070 shares of company stock valued at $42,215,787 over the last quarter. Company insiders own 1.00% of the company’s stock.

Shares of NASDAQ:AMD traded up $0.46 during trading on Thursday, hitting $89.87. 417,124 shares of the company were exchanged, compared to its average volume of 37,955,000. The stock has a 50 day simple moving average of $83.76. The firm has a market cap of $109.19 billion, a P/E ratio of 38.05, a P/E/G ratio of 1.31 and a beta of 2.06. The company has a quick ratio of 1.94, a current ratio of 2.51 and a debt-to-equity ratio of 0.05. Advanced Micro Devices, Inc. has a 1-year low of $56.97 and a 1-year high of $99.23.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Monday, April 26th. The semiconductor manufacturer reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.08. The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.20 billion. Advanced Micro Devices had a net margin of 25.24% and a return on equity of 35.31%. The company’s revenue for the quarter was up 92.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 1.91 EPS for the current year.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.

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

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