Summitry LLC Purchases New Holdings in Advanced Micro Devices, Inc. $AMD

Summitry LLC acquired a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 1,204 shares of the semiconductor manufacturer’s stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Impax Asset Management Group plc boosted its holdings in Advanced Micro Devices by 326.5% in the 3rd quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer’s stock valued at $8,424,000 after purchasing an additional 39,861 shares in the last quarter. Jefferies Financial Group Inc. increased its position in 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 purchasing an additional 303,154 shares during the period. Zweig DiMenna Associates LLC raised its stake in shares of Advanced Micro Devices by 127.6% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer’s stock worth $11,746,000 after buying an additional 40,708 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in shares of Advanced Micro Devices by 7.8% in the 3rd quarter. Wedbush Securities Inc. now owns 84,256 shares of the semiconductor manufacturer’s stock valued at $13,632,000 after buying an additional 6,095 shares during the period. Finally, WealthPlan Investment Management LLC lifted its holdings in shares of Advanced Micro Devices by 338.5% in the 4th quarter. WealthPlan Investment Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock valued at $1,319,000 after buying an additional 4,753 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Up 7.8%

AMD opened at $503.89 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The company has a market cap of $821.64 billion, a price-to-earnings ratio of 165.21, a PEG ratio of 1.37 and a beta of 2.40. Advanced Micro Devices, Inc. has a one year low of $108.62 and a one year high of $506.96. The business’s fifty day moving average is $309.03 and its two-hundred day moving average is $250.05.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $9.90 billion. During the same quarter last year, the business posted $0.96 earnings per share. The business’s revenue for the quarter was up 37.8% on a year-over-year basis. Analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 EPS 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: AMD is being viewed as a major AI beneficiary, with articles highlighting rising demand for its Instinct GPUs, EPYC CPUs, and rack-scale AI infrastructure products. OneQode to Deploy AMD Instinct GPUs and Plans for AMD Helios Rack-Scale Solution for Global AI Infrastructure
• Positive Sentiment: Wall Street appears to be raising its long-term expectations for AMD, with fresh commentary about a possible path to a $1 trillion market cap and higher price targets from analysts. What Will It Take for AMD’s Market Cap to Hit $1 Trillion?
• Positive Sentiment: Sector-wide strength is also helping AMD, as investors rotate into AI chip stocks beyond Nvidia and bid up semiconductor names broadly. Why Qualcomm, AMD, Intel, other AI stocks are surging sharply on Tuesday
• Neutral Sentiment: Some commentary is more cautionary, noting that momentum in AMD and other chip stocks could eventually face valuation pressure after a strong run. Intel, AMD, and Other Momentum Stocks Look Unstoppable. Look Again.
• Negative Sentiment: There is also competitive concern in the background, with one article arguing Nvidia could pressure AMD in CPUs and related AI markets, which could temper upside if competition intensifies. Nvidia Vs. AMD: Nvidia Will Eat AMD’s CPU Lunch

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Advanced Micro Devices from $345.00 to $505.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Citigroup raised their target price on Advanced Micro Devices from $358.00 to $460.00 and gave the company a “neutral” rating in a report on Monday, May 18th. Erste Group Bank upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Susquehanna upped their price target on shares of Advanced Micro Devices from $375.00 to $450.00 and gave the stock a “positive” rating in a research note on Wednesday, May 6th. Finally, Wedbush raised their price objective on shares of Advanced Micro Devices from $290.00 to $400.00 and gave the company an “outperform” rating in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $410.00.

Insider Buying and Selling at Advanced Micro Devices

In other news, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $350.00, for a total value of $10,962,000.00. Following the sale, the executive vice president directly owned 1,236,037 shares in the company, valued at $432,612,950. This represents a 2.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the transaction, the executive vice president directly owned 324,527 shares of the company’s stock, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 329,085 shares of company stock valued at $114,051,007. Insiders own 0.50% of the company’s stock.

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.