Parkside Investments LLC Lowers Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Parkside Investments LLC cut its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 70.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,846 shares of the semiconductor manufacturer’s stock after selling 37,850 shares during the quarter. Parkside Investments LLC’s holdings in Advanced Micro Devices were worth $2,860,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Spartan Planning & Wealth Management purchased a new stake in shares of Advanced Micro Devices during the third quarter valued at $27,000. Northwest Bank & Trust Co bought a new stake in shares of Advanced Micro Devices in the fourth quarter worth approximately $28,000. Gables Capital Management Inc. purchased a new position in shares of Advanced Micro Devices during the fourth quarter valued at approximately $29,000. Bare Financial Services Inc bought a new position in Advanced Micro Devices during the fourth quarter valued at approximately $29,000. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in Advanced Micro Devices in the fourth quarter worth approximately $29,000. 71.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AMD shares. Barclays upped their target price on shares of Advanced Micro Devices from $200.00 to $235.00 and gave the company an “overweight” rating in a report on Monday, March 4th. DZ Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $190.00 price target for the company in a report on Tuesday, May 7th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Susquehanna boosted their price objective on Advanced Micro Devices from $185.00 to $200.00 and gave the company a “positive” rating in a research note on Monday, June 10th. Finally, Evercore ISI decreased their target price on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.83.

Advanced Micro Devices Stock Down 2.0 %

Shares of Advanced Micro Devices stock traded down $3.13 on Wednesday, hitting $157.12. 19,670,907 shares of the company’s stock traded hands, compared to its average volume of 65,335,195. The stock has a market cap of $253.95 billion, a P/E ratio of 230.99, a PEG ratio of 1.85 and a beta of 1.69. The company has a quick ratio of 1.92, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 52-week low of $93.11 and a 52-week high of $227.30. The firm’s 50-day moving average is $158.65 and its 200 day moving average is $164.76.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the prior year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 2.2% on a year-over-year basis. Equities analysts anticipate that Advanced Micro Devices, Inc. will post 2.61 earnings per share for the current year.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the sale, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at $255,343,378.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.65% of the stock is owned by company insiders.

Advanced Micro Devices Company Profile

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.