Summit Global Investments Reduces Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Summit Global Investments lowered its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 19.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 9,789 shares of the semiconductor manufacturer’s stock after selling 2,390 shares during the quarter. Summit Global Investments’ holdings in Advanced Micro Devices were worth $1,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMD. Addison Advisors LLC raised its position in shares of Advanced Micro Devices by 41.9% in the fourth quarter. Addison Advisors LLC now owns 210 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 62 shares during the period. Schear Investment Advisers LLC raised its holdings in Advanced Micro Devices by 0.4% during the 4th quarter. Schear Investment Advisers LLC now owns 15,762 shares of the semiconductor manufacturer’s stock valued at $2,323,000 after acquiring an additional 64 shares during the period. Fiduciary Group LLC lifted its position in shares of Advanced Micro Devices by 2.7% during the fourth quarter. Fiduciary Group LLC now owns 2,516 shares of the semiconductor manufacturer’s stock worth $371,000 after acquiring an additional 65 shares in the last quarter. EWA LLC boosted its holdings in shares of Advanced Micro Devices by 4.0% in the fourth quarter. EWA LLC now owns 1,826 shares of the semiconductor manufacturer’s stock worth $269,000 after acquiring an additional 70 shares during the period. Finally, Oliver Lagore Vanvalin Investment Group raised its stake in shares of Advanced Micro Devices by 36.2% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 271 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 72 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Price Performance

Shares of AMD traded up $4.44 on Friday, reaching $150.60. The stock had a trading volume of 49,303,126 shares, compared to its average volume of 71,957,258. The firm has a 50-day moving average of $175.93 and a 200 day moving average of $151.50. The firm has a market capitalization of $243.39 billion, a PE ratio of 221.47, a PEG ratio of 2.19 and a beta of 1.66. Advanced Micro Devices, Inc. has a twelve month low of $81.11 and a twelve month high of $227.30. The company has a quick ratio of 1.86, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the business earned $0.43 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts expect that Advanced Micro Devices, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMD shares. Cantor Fitzgerald reduced their target price on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. The Goldman Sachs Group boosted their price target on shares of Advanced Micro Devices from $157.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. Finally, DZ Bank reaffirmed a “hold” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.24.

Insider Activity

In related news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $177.57, for a total value of $2,876,634.00. Following the transaction, the executive vice president now owns 1,554,602 shares in the company, valued at $276,050,677.14. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $177.57, for a total transaction of $2,876,634.00. Following the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $276,050,677.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at $794,069.94. The disclosure for this sale can be found here. Insiders have sold 181,850 shares of company stock valued at $34,637,833 in the last three months. Corporate insiders own 0.73% of the company’s stock.

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.