Summerhill Capital Management lnc. Has $6.62 Million Stake in Advanced Micro Devices, Inc. $AMD

Summerhill Capital Management lnc. lifted its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 70.7% during the first quarter, Holdings Channel.com reports. The fund owned 32,552 shares of the semiconductor manufacturer’s stock after purchasing an additional 13,483 shares during the period. Advanced Micro Devices accounts for about 5.8% of Summerhill Capital Management lnc.’s holdings, making the stock its 7th biggest holding. Summerhill Capital Management lnc.’s holdings in Advanced Micro Devices were worth $6,622,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMD. Jefferies Financial Group Inc. boosted its stake in shares of Advanced Micro Devices by 6,228.8% during the 4th quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer’s stock worth $65,966,000 after acquiring an additional 303,154 shares in the last quarter. Williamson Legacy Group LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth $1,118,000. Thoroughbred Financial Services LLC raised its position in shares of Advanced Micro Devices by 8.8% during the fourth quarter. Thoroughbred Financial Services LLC now owns 32,827 shares of the semiconductor manufacturer’s stock worth $7,030,000 after purchasing an additional 2,654 shares during the period. Valtinson Bruner Financial Planning LLC purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at $1,523,000. Finally, Weaver Consulting Group acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at $246,000. Institutional investors own 71.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Needham & Company LLC raised Advanced Micro Devices to a “buy” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Advanced Micro Devices from $270.00 to $385.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Sanford C. Bernstein set a $600.00 target price on shares of Advanced Micro Devices and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. DA Davidson boosted their price target on shares of Advanced Micro Devices from $375.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Raymond James Financial started coverage on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. They issued a “market perform” rating for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $440.41.

Insider Activity

In related news, EVP Paul Darren Grasby sold 24,376 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $444.39, for a total transaction of $10,832,450.64. Following the transaction, the executive vice president directly owned 105,222 shares of the company’s stock, valued at approximately $46,759,604.58. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total transaction of $57,586,250.00. Following the completion of the transaction, the chief executive officer owned 2,896,899 shares in the company, valued at approximately $1,334,572,400.31. This represents a 4.14% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 378,032 shares of company stock valued at $161,876,596 in the last three months. 0.50% of the stock is currently owned by insiders.

Advanced Micro Devices Trading Down 2.1%

Shares of NASDAQ AMD opened at $521.58 on Friday. Advanced Micro Devices, Inc. has a one year low of $133.50 and a one year high of $562.99. The firm has a market capitalization of $850.49 billion, a PE ratio of 171.01, a PEG ratio of 1.54 and a beta of 2.50. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average price of $445.21 and a two-hundred day moving average price of $296.11.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.08. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business’s revenue for the quarter was up 37.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 EPS. As a group, analysts predict that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

Trending Headlines about Advanced Micro Devices

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

Advanced Micro Devices Profile

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company’s product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.