Advanced Micro Devices, Inc. $AMD is Summerhill Capital Management lnc.’s 7th Largest Position

Summerhill Capital Management lnc. raised its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 70.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,552 shares of the semiconductor manufacturer’s stock after acquiring an additional 13,483 shares during the quarter. Advanced Micro Devices makes up 5.8% of Summerhill Capital Management lnc.’s portfolio, making the stock its 7th biggest position. Summerhill Capital Management lnc.’s holdings in Advanced Micro Devices were worth $6,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Joseph Group Capital Management acquired a new position in Advanced Micro Devices in the fourth quarter worth about $25,000. Cornerstone Financial Management LLC acquired a new stake in Advanced Micro Devices during the fourth quarter valued at approximately $27,000. Sarver Vrooman Wealth Advisors bought a new position in Advanced Micro Devices during the 4th quarter worth approximately $27,000. Basepoint Wealth LLC bought a new position in Advanced Micro Devices during the 4th quarter worth approximately $30,000. Finally, Wilkerson Advisory Group LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter worth approximately $33,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on AMD. Citigroup lowered shares of Advanced Micro Devices from a “buy” rating to a “market perform” rating in a research note on Friday, June 12th. Jefferies Financial Group downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings raised shares of Advanced Micro Devices from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, May 6th. Seaport Research Partners raised shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $430.00 target price on the stock in a report on Wednesday, May 6th. Finally, Rosenblatt Securities lifted their target price on Advanced Micro Devices from $300.00 to $490.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $440.41.

Advanced Micro Devices News Roundup

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.

Insider Buying and Selling

In other news, Director Nora Denzel sold 8,626 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total transaction of $4,502,772.00. Following the sale, the director owned 87,173 shares of the company’s stock, valued at approximately $45,504,306. The trade was a 9.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Paul Darren Grasby sold 24,376 shares of the business’s stock in a transaction that occurred 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 owned 105,222 shares of the company’s stock, valued at approximately $46,759,604.58. This represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 378,032 shares of company stock valued at $161,876,596 in the last ninety days. Insiders own 0.50% of the company’s stock.

Advanced Micro Devices Stock Down 2.1%

Advanced Micro Devices stock opened at $521.58 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. Advanced Micro Devices, Inc. has a one year low of $133.50 and a one year high of $562.99. The company has a 50-day simple moving average of $445.21 and a 200-day simple moving average of $296.11. The firm has a market capitalization of $850.49 billion, a P/E ratio of 171.01, a P/E/G ratio of 1.54 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data 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 firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 37.8% compared to the same quarter last year. During the same period last year, the firm posted $0.96 EPS. As a group, equities analysts expect that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current year.

Advanced Micro Devices Company 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.