Summit Global Investments Has $1.52 Million Position in Advanced Micro Devices, Inc. $AMD

Summit Global Investments lessened its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,475 shares of the semiconductor manufacturer’s stock after selling 1,000 shares during the period. Summit Global Investments’ holdings in Advanced Micro Devices were worth $1,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Joseph Group Capital Management bought a new position in Advanced Micro Devices during the fourth quarter worth about $25,000. Sarver Vrooman Wealth Advisors acquired a new position in Advanced Micro Devices during the fourth quarter worth $27,000. Cornerstone Financial Management LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at $27,000. Basepoint Wealth LLC bought a new position in shares of Advanced Micro Devices during the fourth quarter valued at $30,000. Finally, Main Street Group LTD bought a new position in shares of Advanced Micro Devices during the first quarter valued at $33,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AMD. Bank of America raised their price objective on shares of Advanced Micro Devices from $550.00 to $620.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Wolfe Research set a $450.00 target price on Advanced Micro Devices and gave the stock an “outperform” rating in a report on Monday, June 15th. Northland Securities restated a “market perform” rating and set a $260.00 price target on shares of Advanced Micro Devices in a research report on Monday, April 27th. Cantor Fitzgerald raised their price target on Advanced Micro Devices from $500.00 to $700.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Finally, DA Davidson lifted their price objective on Advanced Micro Devices from $375.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $468.65.

Advanced Micro Devices Price Performance

Shares of AMD stock opened at $503.57 on Tuesday. Advanced Micro Devices, Inc. has a 1 year low of $149.22 and a 1 year high of $584.73. The firm’s 50 day moving average is $504.79 and its 200-day moving average is $332.48. The firm has a market capitalization of $821.12 billion, a price-to-earnings ratio of 165.11, a PEG ratio of 1.43 and a beta of 2.47. The company has a current ratio of 2.72, a quick ratio of 1.96 and a debt-to-equity ratio of 0.04.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. Advanced Micro Devices’s revenue was up 37.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.96 earnings per share. Sell-side analysts forecast that Advanced Micro Devices, Inc. will post 6.26 EPS for the current fiscal year.

Insider Activity

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 24,376 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $444.39, for a total value of $10,832,450.64. Following the transaction, the executive vice president directly owned 105,222 shares in the company, valued at approximately $46,759,604.58. This trade represents a 18.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the sale, the executive vice president directly owned 324,527 shares of the company’s stock, valued at $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 341,630 shares of company stock worth $152,147,456. 0.50% of the stock is owned by company insiders.

Advanced Micro Devices News Summary

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

• Positive Sentiment: Microsoft expanded its strategic partnership with AMD and will deploy AMD Helios rack-scale AI systems at scale on Azure, giving AMD a major new customer and validating its push into full-stack AI infrastructure. AMD launches Helios, its first rack AI system to rival Nvidia, adding Microsoft as newest buyer
• Positive Sentiment: Several analysts raised price targets or turned more bullish ahead of AMD’s AI event, suggesting Wall Street expects stronger product momentum and potential upside from new announcements. AMD’s Big AI Moment Is Here: 6 Wall Street Analysts Just Placed Their Bets
• Positive Sentiment: AMD continues to benefit from broad chip-sector strength and a rebound in AI names, with traders rotating back into semiconductors after a recent selloff. Stock Market Today: Nasdaq Clings To A Gain After Trump Comments; AMD Rises (Live Coverage)
• Positive Sentiment: Coverage around AMD’s hyperscaler deals and strong data-center growth highlights a longer-term revenue story, especially if the Microsoft win leads to more deployments. AMD: Hyperscaler Deals Drive Growth

About Advanced Micro Devices

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.