Parcion Private Wealth LLC Raises Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Parcion Private Wealth LLC grew its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 17.0% during the second quarter, HoldingsChannel.com reports. The fund owned 1,699 shares of the semiconductor manufacturer’s stock after purchasing an additional 247 shares during the quarter. Parcion Private Wealth LLC’s holdings in Advanced Micro Devices were worth $276,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Cherrydale Wealth Management LLC grew its holdings in Advanced Micro Devices by 4.7% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $212,000 after purchasing an additional 58 shares in the last quarter. Prentice Wealth Management LLC grew its holdings in Advanced Micro Devices by 1.6% during the 1st quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock valued at $711,000 after purchasing an additional 62 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Advanced Micro Devices by 0.9% during the 1st quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock worth $1,314,000 after acquiring an additional 63 shares in the last quarter. Delta Financial Group Inc. grew its holdings in Advanced Micro Devices by 5.0% during the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after acquiring an additional 63 shares in the last quarter. Finally, Integrated Advisors Network LLC grew its holdings in Advanced Micro Devices by 0.3% during the 4th quarter. Integrated Advisors Network LLC now owns 18,944 shares of the semiconductor manufacturer’s stock worth $2,793,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the transaction, the executive vice president now directly owns 1,546,227 shares in the company, valued at $245,757,319.38. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on AMD. Bank of America decreased their price objective on shares of Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Morgan Stanley raised their price objective on shares of Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Jefferies Financial Group began coverage on shares of Advanced Micro Devices in a report on Monday, May 13th. They set a “buy” rating and a $190.00 price objective for the company. Citigroup raised their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and an average target price of $193.45.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD traded down $5.09 during midday trading on Friday, reaching $134.35. The company’s stock had a trading volume of 39,887,977 shares, compared to its average volume of 61,473,988. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a 50 day moving average price of $151.31 and a 200 day moving average price of $162.90. Advanced Micro Devices, Inc. has a one year low of $93.11 and a one year high of $227.30. The company has a market cap of $217.15 billion, a price-to-earnings ratio of 197.57, a price-to-earnings-growth ratio of 2.03 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

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.