Advanced Micro Devices, Inc. $AMD Shares Sold by Summit Financial LLC

Key Points

• Summit Financial LLC trimmed its AMD stake by 5.4% in the fourth quarter, selling 4,159 shares and ending with 72,437 shares valued at about $15.5 million.
• AMD has seen bullish analyst action lately, with Citi and Bank of America both raising their views on the stock due to optimism around its AI GPU and CPU opportunities. The consensus rating remains Moderate Buy with a price target of $424.59.
• The company posted better-than-expected quarterly results, reporting $1.37 EPS on $10.25 billion in revenue, while revenue rose 37.8% year over year. Insider selling has also been notable, with executives and directors selling shares in recent months.

Summit Financial LLC reduced its position in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,437 shares of the semiconductor manufacturer's stock after selling 4,159 shares during the quarter. Summit Financial LLC's holdings in Advanced Micro Devices were worth $15,513,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Joseph Group Capital Management acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $25,000. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $27,000. Basepoint Wealth LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $30,000. Key Capital Management INC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $38,000. Finally, PFS Partners LLC boosted its holdings in shares of Advanced Micro Devices by 269.2% in the fourth quarter. PFS Partners LLC now owns 192 shares of the semiconductor manufacturer's stock valued at $41,000 after acquiring an additional 140 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Key Advanced Micro Devices News

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: Citi upgraded AMD and argued that the market is underpricing its AI GPU upside, boosting confidence in the stock’s AI-driven growth path.
• Positive Sentiment: Bank of America also raised its outlook on AMD, calling it a top CPU pick and pointing to a large agentic AI opportunity across servers and accelerators.
• Positive Sentiment: Multiple reports highlighted rising GPU market-share data and stronger investor focus on AMD’s expanding role in AI hardware, helping semiconductor stocks rally broadly.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on AMD shares. Sanford C. Bernstein started coverage on Advanced Micro Devices in a report on Friday. They issued an "outperform" rating for the company. Erste Group Bank upgraded Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Thursday, April 2nd. Mizuho upped their price target on Advanced Micro Devices from $515.00 to $615.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Rosenblatt Securities upped their price target on Advanced Micro Devices from $300.00 to $490.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Zacks Research cut Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $424.59.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $511.57 on Friday. Advanced Micro Devices, Inc. has a 12 month low of $115.06 and a 12 month high of $546.44. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The business has a 50 day simple moving average of $386.41 and a 200-day simple moving average of $274.18. The stock has a market capitalization of $834.17 billion, a PE ratio of 167.73, a price-to-earnings-growth ratio of 1.44 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping the consensus estimate of $1.29 by $0.08. The business had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The company's quarterly revenue was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. Equities analysts predict that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current year.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 19,487 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the transaction, the executive vice president owned 324,527 shares in the company, valued at approximately $140,000,947.80. This represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nora Denzel sold 8,626 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the transaction, the director owned 87,173 shares of the company's stock, valued at $45,504,306. The trade was a 9.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 372,032 shares of company stock valued at $158,658,616 in the last three months. Insiders own 0.50% of the company's stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc NASDAQ: AMD is a global semiconductor company that designs and sells microprocessors, graphics processors, chipsets and adaptive computing solutions for a broad set of markets. The company's product portfolio includes consumer and commercial CPUs under the Ryzen and Threadripper brands, data center processors under the EPYC brand, and Radeon graphics processing units for gaming and professional visualization. AMD also offers semi-custom system-on-chip (SoC) products for gaming consoles and other specialized applications, and provides supporting software and platform technologies for OEMs, cloud service providers and end users.

Founded in 1969, AMD has evolved from a supplier of logic chips into a diversified, fabless semiconductor designer.

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