Parkside Investments LLC Acquires 1,285 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Parkside Investments LLC grew its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 3.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 43,961 shares of the semiconductor manufacturer’s stock after buying an additional 1,285 shares during the period. Parkside Investments LLC’s holdings in Advanced Micro Devices were worth $4,517,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices during the 4th quarter worth about $25,000. Greenline Partners LLC purchased a new stake in Advanced Micro Devices during the fourth quarter worth $28,000. Halbert Hargrove Global Advisors LLC bought a new stake in Advanced Micro Devices during the fourth quarter valued at about $29,000. Mpwm Advisory Solutions LLC bought a new position in shares of Advanced Micro Devices during the 4th quarter worth approximately $30,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $31,000. 71.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AMD shares. Mizuho raised their target price on shares of Advanced Micro Devices from $117.00 to $135.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Wall Street Zen raised Advanced Micro Devices from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Dbs Bank lowered Advanced Micro Devices from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 8th. UBS Group reduced their price target on shares of Advanced Micro Devices from $155.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, DZ Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $118.00 price target for the company in a research report on Thursday, May 8th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $133.23.

Advanced Micro Devices Trading Down 2.2%

AMD opened at $118.50 on Friday. The firm has a 50 day simple moving average of $103.76 and a 200 day simple moving average of $111.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a fifty-two week low of $76.48 and a fifty-two week high of $187.28. The company has a market cap of $192.14 billion, a price-to-earnings ratio of 119.70, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analyst estimates of $7.10 billion. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

Advanced Micro Devices declared that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to reacquire up to 3.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the transaction, the executive vice president now owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% 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. 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.