Summit Global Investments Purchases 470 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Summit Global Investments boosted its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 22.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,554 shares of the semiconductor manufacturer’s stock after buying an additional 470 shares during the period. Summit Global Investments’ holdings in Advanced Micro Devices were worth $414,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Chase Investment Counsel Corp grew its stake in Advanced Micro Devices by 0.7% in the fourth quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock valued at $1,772,000 after acquiring an additional 87 shares during the period. Fortis Capital Advisors LLC lifted its stake in Advanced Micro Devices by 137.8% in the 4th quarter. Fortis Capital Advisors LLC now owns 12,485 shares of the semiconductor manufacturer’s stock valued at $1,840,000 after acquiring an additional 7,235 shares in the last quarter. Headlands Technologies LLC acquired a new position in Advanced Micro Devices during the 4th quarter worth approximately $1,759,000. Valmark Advisers Inc. grew its stake in shares of Advanced Micro Devices by 50.4% during the 4th quarter. Valmark Advisers Inc. now owns 7,201 shares of the semiconductor manufacturer’s stock worth $1,061,000 after acquiring an additional 2,413 shares in the last quarter. Finally, Baxter Bros Inc. acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $264,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMD. TD Cowen reaffirmed a “buy” rating and issued a $210.00 target price on shares of Advanced Micro Devices in a research report on Monday. Wedbush restated an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Susquehanna reiterated a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Cantor Fitzgerald decreased their price target on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup upped their price objective on Advanced Micro Devices from $176.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Stock Performance

Shares of AMD stock traded up $1.25 on Wednesday, hitting $157.65. The company’s stock had a trading volume of 34,411,309 shares, compared to its average volume of 63,010,297. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.82. The stock’s 50 day moving average is $154.61 and its 200-day moving average is $165.16. Advanced Micro Devices, Inc. has a fifty-two week low of $93.11 and a fifty-two week high of $227.30. The company has a market capitalization of $254.81 billion, a PE ratio of 230.87, a PEG ratio of 1.79 and a beta of 1.69.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the prior year, the company posted $0.40 earnings per share. Advanced Micro Devices’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts expect that Advanced Micro Devices, Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

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