Parsons Capital Management Inc. RI Sells 5,206 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Parsons Capital Management Inc. RI trimmed its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 20.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,070 shares of the semiconductor manufacturer's stock after selling 5,206 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Advanced Micro Devices were worth $2,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMD. Brighton Jones LLC lifted its holdings in Advanced Micro Devices by 178.2% in the 4th quarter. Brighton Jones LLC now owns 45,956 shares of the semiconductor manufacturer's stock valued at $5,551,000 after acquiring an additional 29,438 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Advanced Micro Devices during the 4th quarter worth about $34,366,000. Revolve Wealth Partners LLC raised its holdings in Advanced Micro Devices by 2.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,283 shares of the semiconductor manufacturer's stock worth $1,001,000 after buying an additional 234 shares during the period. Strategic Financial Concepts LLC raised its holdings in Advanced Micro Devices by 16,019.8% during the 4th quarter. Strategic Financial Concepts LLC now owns 397,030 shares of the semiconductor manufacturer's stock worth $440,000 after buying an additional 394,567 shares during the period. Finally, International Private Wealth Advisors LLC acquired a new stake in Advanced Micro Devices during the 4th quarter worth about $258,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Stock Performance

AMD stock traded down $2.64 during midday trading on Thursday, hitting $118.50. The stock had a trading volume of 44,550,823 shares, compared to its average volume of 41,403,391. Advanced Micro Devices, Inc. has a 52 week low of $76.48 and a 52 week high of $187.28. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock has a 50-day simple moving average of $103.76 and a 200 day simple moving average of $111.65. The firm has a market capitalization of $192.14 billion, a price-to-earnings ratio of 119.70, a P/E/G ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 EPS for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The business had revenue of $7.44 billion during the quarter, compared to the consensus estimate of $7.10 billion. During the same quarter last year, the company earned $0.62 EPS. Advanced Micro Devices's revenue was up 35.9% on a year-over-year basis. As a group, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to buy up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on AMD. Wells Fargo & Company dropped their target price on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Susquehanna lowered their price target on Advanced Micro Devices from $150.00 to $135.00 and set a "positive" rating for the company in a research note on Thursday, April 24th. Morgan Stanley lowered their price target on Advanced Micro Devices from $137.00 to $121.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Finally, Citigroup boosted their price target on Advanced Micro Devices from $100.00 to $120.00 and gave the company a "neutral" rating in a research note on Monday. Fifteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of "Moderate Buy" and an average price target of $133.23.

Insider Activity

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now owns 1,713,710 shares in the company, valued at $163,607,893.70. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.06% of the stock is owned by corporate 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.