Photograph of Pau Barrena / AFP / Getty Images
Australian Financial Giant
made major adjustments to its equity holdings in the fourth quarter
Macquarie, which issued a revised statement for the quarter on Thursday, trimmed its investments in
Advanced micro systems
(MU). However, the bank has more than doubled its holdings in
stock (QCOM); it's the only one of the five trolling chips values compared to the
S & P 500
until this year.
The bank did not immediately respond to a request for comment on the transactions.
Macquarie reduced its investment in Intel shares by 11% to 13.8 million shares. Intel's stock gained 1.6% in 2018, but so far in 2019 it has increased 16.4% until Thursday's close, surpassing the 13.9% gain of the S & P 500. Barron's noted earlier this month that new leaders hired by the chip giant were auspicious for Intel stocks.
The bank halved its investment in AMD shares to close the fourth quarter with 360,000 shares. The only chip company among the five to have a strong stock of 2018 – AMD up 80% – shares are up 51.1% since 2019. The stock jumped this week when the Google Alphabet Unit ( GOOGL) has confirmed its Stadia cloud game service.
Nvidia shares slipped 31% in 2018 and Macquarie reduced its holdings by three-quarters to end in 2018 with only 12,382 shares. The title caught fire this year, however, and the Nvidia title now shows a gain of 37.8%. Nvidia agreed to buy a chip maker
(MLNX) earlier this month, sending the shares of the two companies higher.
Macquarie reduced its position in Micron's stock by 16% in the fourth quarter to 2 million shares. The shares closed in 2018 with a loss of 23%, but so far in 2019, Micron shares have erased last year's decline of 38.6% this year. An analyst has noted the rise but do not think the stock is a buy.
The bank more than doubled its investment in Qualcomm shares by buying an additional 481,470 shares in the fourth quarter, ending in 2018 with 798,703 shares. Shares are not in the red for 2019, but Qualcomm shares are up only 1.5% from the other four stocks and the market in general. We found that Qualcomm made over 95% of its sales outside the United States, mainly in Asia, and that a strong dollar could hurt it.