Jacobs Levy Equity Management Inc Lowers stake in Advanced Micro Devices (AMD)

Advanced Micro Devices (AMD) : Jacobs Levy Equity Management Inc reduced its stake in Advanced Micro Devices by 3.79% during the most recent quarter end. The investment management company now holds a total of 5,285,673 shares of Advanced Micro Devices which is valued at $35,572,579 after selling 208,300 shares in Advanced Micro Devices , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Advanced Micro Devices makes up approximately 0.70% of Jacobs Levy Equity Management Inc’s portfolio.

Other Hedge Funds, Including , Central Asset Investments Management Holdings (hk) Ltd added AMD to its portfolio by purchasing 112,900 company shares during the most recent quarter which is valued at $759,817. Advanced Micro Devices makes up approx 1.84% of Central Asset Investments Management Holdings (hk) Ltd’s portfolio. Marshall Wace Llp added AMD to its portfolio by purchasing 1,588,755 company shares during the most recent quarter which is valued at $10,692,321. Advanced Micro Devices makes up approx 0.09% of Marshall Wace Llp’s portfolio. Spot Trading L.l.c added AMD to its portfolio by purchasing 44,505 company shares during the most recent quarter which is valued at $280,382. Advanced Micro Devices makes up approx 0.04% of Spot Trading L.l.c’s portfolio.Gemmer Asset Management boosted its stake in AMD in the latest quarter, The investment management firm added 744 additional shares and now holds a total of 1,403 shares of Advanced Micro Devices which is valued at $8,194.

Advanced Micro Devices closed down -0.05 points or -0.68% at $7.35 with 2,22,84,592 shares getting traded on Thursday. Post opening the session at $7.18, the shares hit an intraday low of $7.09 and an intraday high of $7.44 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Advanced Micro Devices reported $-0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $-0.13. The company had revenue of $832.00 million for the quarter, compared to analysts expectations of $818.41 million. The company’s revenue was down -19.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.09 EPS.

Many Wall Street Analysts have commented on Advanced Micro Devices. Company shares were Reiterated by Mizuho on Sep 1, 2016 to “Neutral”, Firm has raised the Price Target to $ 7 from a previous price target of $5.50 .Company shares were Reiterated by Canaccord Genuity on Aug 25, 2016 to “Buy”, Firm has raised the Price Target to $ 8.50 from a previous price target of $7.50 .Company shares were Reiterated by Mizuho on Jul 22, 2016 to “Neutral”, Firm has raised the Price Target to $ 5.50 from a previous price target of $4.50 .

Advanced Micro Devices Inc. is a global semiconductor company with facilities across the world. The Company offers x86 microprocessors as standalone devices or as incorporated as an accelerated processing unit (APU) chipsets discrete graphics processing units (GPUs) and professional graphics and server and embedded processors dense servers semi-custom System-on-Chip (SoC) products and technology for game consoles. The Company operates in two segments: the Computing and Graphics segment which includes desktop and notebook processors and chipsets discrete GPUs and professional graphics and the Enterprise Embedded and Semi-Custom segment which includes server and embedded processors dense servers semi-custom SoC products engineering services and royalties. The Company sells its products through direct sales force and through independent distributors and sales representatives in both domestic and international markets.

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