Is Advanced Micro Devices (AMD) a Good Investment?

At the end of 2016, there were 32 funds from our database holding shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) with a total value of $857.62 million. The stock registered a decline in popularity, as the number of investors bullish on the company dropped by 15 during the fourth quarter, although the aggregate value of their holdings advanced from the $644.56 million reported as of the end of September.

Among the funds that boosted their stakes in Advanced Micro Devices during the final three months of 2016 was billionaire Jim Simons‘ Renaissance Technologies, which had added 8.27 million shares to its position that contained 11.53 million shares at the end of the year. Peter Muller’s PDT Partners boosted its stake by 200% to 3.42 million shares.

On the other hand, Josh Resnick’s Jericho Capital Asset Management sold 2.06 million shares during the quarter to hold 4.63 million shares heading into 2017. D. E. Shaw, founded by David E. Shaw, cut its position by 77% to 1.95 million shares.

Generally speaking hedge fund sentiment-wise, Advanced Micro Devices, Inc. (NASDAQ:AMD) is not as popular as Intel, in which 58 funds held shares at the end of 2016. However, both stocks registered a decline in the number of bullish investors during the fourth quarter, although AMD’s stock registered better performance.

Disclosure: None