Summit Global Investments Grows Stock Position in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Summit Global Investments raised its position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 52.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,885 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,331 shares during the period. Summit Global Investments’ holdings in Advanced Micro Devices were worth $637,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Presidio Capital Management LLC bought a new position in shares of Advanced Micro Devices during the third quarter valued at approximately $225,000. Verity Asset Management Inc. boosted its holdings in Advanced Micro Devices by 1.9% during the 3rd quarter. Verity Asset Management Inc. now owns 20,520 shares of the semiconductor manufacturer’s stock valued at $3,367,000 after acquiring an additional 386 shares during the period. Lewis Asset Management LLC grew its position in Advanced Micro Devices by 6.9% in the 3rd quarter. Lewis Asset Management LLC now owns 6,961 shares of the semiconductor manufacturer’s stock valued at $1,142,000 after acquiring an additional 452 shares during the last quarter. Sittner & Nelson LLC increased its stake in Advanced Micro Devices by 13.8% in the third quarter. Sittner & Nelson LLC now owns 1,811 shares of the semiconductor manufacturer’s stock worth $297,000 after purchasing an additional 220 shares during the period. Finally, Valliance Asset Management Ltd bought a new stake in shares of Advanced Micro Devices during the third quarter worth $4,922,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Down 1.2 %

NASDAQ:AMD opened at $147.95 on Friday. The company has a market capitalization of $240.09 billion, a P/E ratio of 133.29, a PEG ratio of 2.01 and a beta of 1.71. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a 12 month low of $113.06 and a 12 month high of $227.30. The firm has a fifty day simple moving average of $154.44 and a 200-day simple moving average of $155.52.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the business earned $0.53 EPS. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. On average, equities research analysts anticipate that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current year.

Insider Activity

In related news, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares of the company’s stock, valued at $41,558,469.49. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at $513,150,048.94. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. Bank of America reissued a “buy” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Barclays decreased their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Robert W. Baird dropped their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.79.

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.