Summit Financial LLC Increases Stock Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Summit Financial LLC raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,860 shares of the semiconductor manufacturer’s stock after buying an additional 3,593 shares during the quarter. Summit Financial LLC’s holdings in Advanced Micro Devices were worth $4,332,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Bear Mountain Capital Inc. purchased a new stake in shares of Advanced Micro Devices during the fourth quarter valued at $25,000. Global Wealth Strategies & Associates acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at about $26,000. Halbert Hargrove Global Advisors LLC purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth about $29,000. FSA Wealth Management LLC acquired a new stake in shares of Advanced Micro Devices during the third quarter worth about $41,000. Finally, Summit Securities Group LLC purchased a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $31,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Activity

In other Advanced Micro Devices news, EVP Philip Guido acquired 4,645 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average cost of $107.56 per share, with a total value of $499,616.20. Following the transaction, the executive vice president now owns 33,522 shares of the company’s stock, valued at $3,605,626.32. This trade represents a 16.09 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Jefferies Financial Group cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their price objective for the company from $135.00 to $120.00 in a research note on Thursday, March 27th. Mizuho reduced their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. DZ Bank downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Friday, February 7th. Bank of America dropped their price objective on shares of Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Citigroup reissued a “buy” rating on shares of Advanced Micro Devices in a report on Wednesday, February 19th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $152.72.

Advanced Micro Devices Stock Down 0.5 %

Shares of NASDAQ:AMD opened at $102.74 on Tuesday. Advanced Micro Devices, Inc. has a 52-week low of $94.73 and a 52-week high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03. The business has a fifty day moving average of $109.01 and a two-hundred day moving average of $130.35. The stock has a market cap of $166.49 billion, a P/E ratio of 103.78, a PEG ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.07. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. On average, research analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.