Summit Global Investments Increases Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Summit Global Investments increased its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 52.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 3,885 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,331 shares during the quarter. Summit Global Investments’ holdings in Advanced Micro Devices were worth $637,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Semmax Financial Advisors Inc. raised its position in shares of Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 139 shares during the last quarter. Creative Capital Management Investments LLC increased its stake in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares in the last quarter. ZRC Wealth Management LLC raised its holdings in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the last quarter. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices in the second quarter valued at approximately $27,000. Finally, Morton Brown Family Wealth LLC boosted its stake in shares of Advanced Micro Devices by 94.4% in the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 85 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on AMD. UBS Group reduced their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Robert W. Baird decreased their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Bank of America reaffirmed a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Truist Financial decreased their target price on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Finally, Benchmark reaffirmed a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Price Performance

Shares of AMD opened at $147.95 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a fifty-two week low of $113.06 and a fifty-two week high of $227.30. The company has a market cap of $240.09 billion, a P/E ratio of 133.29, a PEG ratio of 2.01 and a beta of 1.71. The firm’s 50 day moving average price is $154.44 and its 200 day moving average price is $155.52.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period last year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.