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

Summit Financial LLC boosted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 29.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,389 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,724 shares during the period. Summit Financial LLC’s holdings in Advanced Micro Devices were worth $4,767,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Berry Wealth Group LP boosted its position in shares of Advanced Micro Devices by 10.8% in the 2nd quarter. Berry Wealth Group LP now owns 3,831 shares of the semiconductor manufacturer’s stock valued at $621,000 after purchasing an additional 374 shares during the period. Avaii Wealth Management LLC boosted its holdings in shares of Advanced Micro Devices by 31.9% in the second quarter. Avaii Wealth Management LLC now owns 25,323 shares of the semiconductor manufacturer’s stock valued at $4,108,000 after acquiring an additional 6,130 shares during the period. Turtle Creek Wealth Advisors LLC raised its position in Advanced Micro Devices by 20.9% in the 2nd quarter. Turtle Creek Wealth Advisors LLC now owns 2,081 shares of the semiconductor manufacturer’s stock valued at $338,000 after purchasing an additional 360 shares during the last quarter. Aptus Capital Advisors LLC boosted its stake in Advanced Micro Devices by 20.3% during the 2nd quarter. Aptus Capital Advisors LLC now owns 67,761 shares of the semiconductor manufacturer’s stock worth $10,992,000 after purchasing an additional 11,423 shares during the period. Finally, Fortress Wealth Group LLC purchased a new position in Advanced Micro Devices during the 2nd quarter worth $204,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

NASDAQ:AMD traded up $3.07 during trading hours on Friday, reaching $148.56. 31,169,069 shares of the company traded hands, compared to its average volume of 48,802,300. The firm’s 50-day moving average is $153.31 and its 200-day moving average is $164.06. The stock has a market cap of $240.44 billion, a P/E ratio of 218.47, a P/E/G ratio of 2.03 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. Advanced Micro Devices, Inc. has a 1-year low of $93.11 and a 1-year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.72 billion. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. Advanced Micro Devices’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Equities research analysts expect that Advanced Micro Devices, Inc. will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AMD has been the topic of a number of research reports. Bank of America lowered their price target on Advanced Micro Devices from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald lowered their price objective on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. TD Cowen restated a “buy” rating and set a $210.00 price objective on shares of Advanced Micro Devices in a research report on Monday, August 19th. Finally, KeyCorp lowered their target price on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, July 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $193.45.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Advanced Micro Devices Company Profile

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.