Parallel Advisors LLC Reduces Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Parallel Advisors LLC lessened its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 24,150 shares of the semiconductor manufacturer’s stock after selling 272 shares during the quarter. Parallel Advisors LLC’s holdings in Advanced Micro Devices were worth $2,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMD. Bear Mountain Capital Inc. purchased a new position in shares of Advanced Micro Devices during the 4th quarter valued at about $25,000. Global Wealth Strategies & Associates acquired a new stake in Advanced Micro Devices during the fourth quarter worth about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in Advanced Micro Devices during the fourth quarter valued at approximately $29,000. Retirement Wealth Solutions LLC purchased a new position in Advanced Micro Devices during the fourth quarter valued at approximately $32,000. Finally, IAG Wealth Partners LLC lifted its holdings in Advanced Micro Devices by 74.7% in the fourth quarter. IAG Wealth Partners LLC now owns 276 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 118 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMD has been the subject of several recent research reports. Mizuho cut their target price on shares of Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Friday. UBS Group set a $175.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, February 5th. Truist Financial set a $130.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, February 5th. Hsbc Global Res cut Advanced Micro Devices from a “strong-buy” rating to a “moderate sell” rating in a research report on Wednesday, January 8th. Finally, Summit Insights raised Advanced Micro Devices to a “hold” rating in a report on Tuesday, February 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.14.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $104.59 on Tuesday. The company’s 50-day moving average is $111.55 and its two-hundred day moving average is $132.85. Advanced Micro Devices, Inc. has a 1-year low of $94.73 and a 1-year high of $193.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The firm has a market capitalization of $169.49 billion, a price-to-earnings ratio of 105.65, a PEG ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 EPS for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. Analysts forecast that Advanced Micro Devices, Inc. will post 3.87 EPS for the current year.

Insider Transactions at Advanced Micro Devices

In related news, EVP Philip Guido acquired 4,645 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the acquisition, the executive vice president now owns 33,522 shares in the company, valued at $3,605,626.32. The trade was a 16.09 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.73% of the company’s stock.

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.