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

Summit Global Investments lowered its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,475 shares of the semiconductor manufacturer’s stock after selling 1,000 shares during the quarter. 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.

A number of other large investors have also recently bought and sold shares of the business. Columbia Bank boosted its stake in shares of Advanced Micro Devices by 0.7% during the 1st quarter. Columbia Bank now owns 5,188 shares of the semiconductor manufacturer’s stock worth $1,055,000 after acquiring an additional 34 shares in the last quarter. Evolution Wealth Management Inc. boosted its position in Advanced Micro Devices by 11.0% during the first quarter. Evolution Wealth Management Inc. now owns 352 shares of the semiconductor manufacturer’s stock worth $72,000 after purchasing an additional 35 shares during the period. Focused Wealth Management Inc boosted its position in Advanced Micro Devices by 2.7% during the first quarter. Focused Wealth Management Inc now owns 1,431 shares of the semiconductor manufacturer’s stock worth $291,000 after purchasing an additional 37 shares during the period. James J. Burns & Company LLC grew its holdings in Advanced Micro Devices by 2.3% during the fourth quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer’s stock valued at $389,000 after purchasing an additional 40 shares during the last quarter. Finally, Private Wealth Management Group LLC grew its holdings in Advanced Micro Devices by 24.8% during the first quarter. Private Wealth Management Group LLC now owns 201 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 40 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction dated 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 owned 324,527 shares in the company, valued at approximately $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of Advanced Micro Devices stock in a transaction dated 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 sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 341,630 shares of company stock worth $152,147,456. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Needham & Company LLC upgraded shares of Advanced Micro Devices to a “buy” rating in a research note on Wednesday, May 6th. Royal Bank Of Canada raised their target price on shares of Advanced Micro Devices from $325.00 to $400.00 and gave the company a “sector perform” rating in a research note on Wednesday, May 6th. Melius Research set a $540.00 target price on shares of Advanced Micro Devices in a report on Monday, May 18th. Raymond James Financial began coverage on shares of Advanced Micro Devices in a research report on Wednesday, May 6th. They set a “market perform” rating for the company. Finally, William Blair assumed coverage on shares of Advanced Micro Devices in a report on Thursday, July 9th. They set a “market perform” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $468.65.

Key Advanced Micro Devices News

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

Advanced Micro Devices Stock Up 1.6%

AMD opened at $503.57 on Tuesday. The business has a 50 day moving average of $504.79 and a 200-day moving average of $332.48. The stock has a market capitalization of $821.12 billion, a price-to-earnings ratio of 165.11, a P/E/G 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, Inc. has a 1-year low of $149.22 and a 1-year high of $584.73.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.08. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.96 earnings per share. As a group, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 6.26 earnings per share for the current year.

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.