Providence Capital Advisors LLC Has $352,000 Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Key Points

• Providence Capital Advisors LLC has reduced its stake in Advanced Micro Devices (AMD) by 84.6%, selling 18,799 shares and retaining only 3,428 shares, valued at approximately $352,000.
• Institutional investors own 71.34% of AMD's shares, with several firms increasing their positions during the first quarter, including Azimuth Capital, which raised its stake by 49.7%.
• Research analysts have generally positive forecasts for AMD, with price targets being raised; for instance, Raymond James increased its target from $120 to $200, indicating a bullish outlook.

Providence Capital Advisors LLC lowered its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 84.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,428 shares of the semiconductor manufacturer's stock after selling 18,799 shares during the quarter. Providence Capital Advisors LLC's holdings in Advanced Micro Devices were worth $352,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Greenline Partners LLC purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of Advanced Micro Devices by 277.8% during the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 200 shares in the last quarter. American Capital Advisory LLC raised its position in shares of Advanced Micro Devices by 90.3% during the 1st quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 130 shares in the last quarter. Kozak & Associates Inc. increased its position in Advanced Micro Devices by 67.6% in the first quarter. Kozak & Associates Inc. now owns 305 shares of the semiconductor manufacturer's stock worth $29,000 after buying an additional 123 shares during the period. Finally, Mpwm Advisory Solutions LLC acquired a new stake in Advanced Micro Devices in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 71.34% of the company's stock.

Advanced Micro Devices Price Performance

AMD stock traded down $3.44 during trading on Friday, hitting $177.51. The company had a trading volume of 51,411,840 shares, compared to its average volume of 70,300,688. The company has a fifty day moving average price of $150.71 and a two-hundred day moving average price of $120.28. The company has a current ratio of 2.49, a quick ratio of 1.81 and a debt-to-equity ratio of 0.05. The company has a market cap of $288.07 billion, a P/E ratio of 102.02, a P/E/G ratio of 2.10 and a beta of 1.94. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $186.65.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The semiconductor manufacturer reported $0.48 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.06). The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.41 billion. Advanced Micro Devices had a net margin of 9.57% and a return on equity of 7.54%. Advanced Micro Devices's quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. Equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 14th that permits the company to buyback $6.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 17,998 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $155.03, for a total transaction of $2,790,229.94. Following the sale, the executive vice president owned 1,713,710 shares in the company, valued at approximately $265,676,461.30. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Paul Darren Grasby sold 10,000 shares of the stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $173.21, for a total value of $1,732,100.00. Following the sale, the executive vice president owned 125,505 shares in the company, valued at $21,738,721.05. The trade was a 7.38% decrease in their position. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. TD Cowen increased their price target on Advanced Micro Devices from $165.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Wells Fargo & Company raised their target price on Advanced Micro Devices from $120.00 to $185.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Robert W. Baird decreased their price target on Advanced Micro Devices from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Citigroup raised their price objective on Advanced Micro Devices from $145.00 to $165.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Finally, The Goldman Sachs Group upgraded Advanced Micro Devices to a "hold" rating and set a $140.00 price objective for the company in a research report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $180.12.

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.