Summit Wealth Group LLC Co. Lowers Stock Position in Advanced Micro Devices, Inc. $AMD

Key Points

• Summit Wealth Group LLC cut its AMD stake by 51.8% in the fourth quarter, leaving it with 1,843 shares valued at about $395,000.
• Despite that sale, institutional ownership remains high, with 71.34% of AMD shares held by hedge funds and other institutional investors, and several firms recently added to or opened positions.
• AMD reported strong quarterly results, beating EPS and revenue estimates with 37.8% year-over-year revenue growth, while analysts have largely stayed bullish and raised price targets amid optimism over AI-driven demand.

Summit Wealth Group LLC Co. reduced its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 51.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,843 shares of the semiconductor manufacturer's stock after selling 1,984 shares during the quarter. Summit Wealth Group LLC Co.'s holdings in Advanced Micro Devices were worth $395,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Independent Advisor Alliance raised its stake in shares of Advanced Micro Devices by 0.4% during the fourth quarter. Independent Advisor Alliance now owns 297,200 shares of the semiconductor manufacturer's stock worth $63,648,000 after acquiring an additional 1,254 shares in the last quarter. Legacy Financial Advisors Inc. raised its stake in shares of Advanced Micro Devices by 5.5% during the fourth quarter. Legacy Financial Advisors Inc. now owns 7,948 shares of the semiconductor manufacturer's stock worth $1,702,000 after acquiring an additional 417 shares in the last quarter. Ground Swell Capital LLC purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $428,000. Atlantic Union Bankshares Corp raised its stake in shares of Advanced Micro Devices by 9.2% during the fourth quarter. Atlantic Union Bankshares Corp now owns 8,173 shares of the semiconductor manufacturer's stock worth $1,750,000 after acquiring an additional 686 shares in the last quarter. Finally, Cascades Capital Asset Management LLC purchased a new position in shares of Advanced Micro Devices during the fourth quarter worth approximately $132,000. 71.34% of the stock is owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 0.6%

Shares of NASDAQ AMD opened at $445.50 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a 52 week low of $107.67 and a 52 week high of $469.21. The firm's fifty day moving average is $263.87 and its 200 day moving average is $237.84. The company has a market cap of $726.43 billion, a price-to-earnings ratio of 146.07, a PEG ratio of 1.34 and a beta of 2.40.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its 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. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $9.90 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. The firm's revenue for the quarter was up 37.8% on a year-over-year basis. On average, equities research analysts expect that Advanced Micro Devices, Inc. will post 6.17 earnings per share for the current year.

Trending Headlines about Advanced Micro Devices

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

• Positive Sentiment: Mizuho raised its AMD price target to $515 and kept an Outperform rating, citing strong agentic AI server demand. Mizuho Just Hiked AMD Price Target to $515: Agentic AI Server Demand Powers the Bull Case
• Positive Sentiment: Bank of America lifted its AMD target to $500, reinforcing the bullish view that AI infrastructure spending is still driving upside for the stock. Top Bank of America Analyst Raises AMD Stock Price Target – Here’s Why
• Positive Sentiment: AMD’s strong Q1 beat and record data-center revenue continue to fuel optimism around its AI growth story. Massive News for AMD Stock Investors
• Positive Sentiment: New commentary highlighted AMD’s AI deals with Meta Platforms and OpenAI, suggesting long-term demand for its next-generation MI450 chips. AMD MI450 AI Deals With Meta And OpenAI Test Rich Valuation
• Neutral Sentiment: Northland Securities raised several forward earnings estimates for AMD but kept a Market Perform rating and a $260 target, showing the Street is still divided on valuation.
• Negative Sentiment: Some reports warn that AMD and the broader chip sector may be vulnerable to profit-taking after a parabolic rally.
• Negative Sentiment: Recent insider selling has kept some investors cautious despite the strong AI-driven momentum.

Wall Street Analyst Weigh In

Several research analysts have commented on AMD shares. Erste Group Bank raised shares of Advanced Micro Devices from a "hold" rating to a "buy" rating in a research note on Thursday, April 2nd. Wolfe Research started coverage on shares of Advanced Micro Devices in a research note on Wednesday, May 6th. They set a "peer perform" rating on the stock. Susquehanna lifted their price target on shares of Advanced Micro Devices from $375.00 to $450.00 and gave the stock a "positive" rating in a research note on Wednesday, May 6th. Royal Bank Of Canada lifted their price target on shares of Advanced Micro Devices from $325.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Wednesday, May 6th. Finally, DA Davidson lifted their price target on shares of Advanced Micro Devices from $375.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $396.95.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 24,376 shares of the business's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $444.39, for a total transaction of $10,832,450.64. Following the transaction, the executive vice president directly owned 105,222 shares of the company's stock, valued at approximately $46,759,604.58. The trade was a 18.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark D. Papermaster sold 31,320 shares of the business's stock in a transaction on Friday, April 24th. The shares were sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the transaction, the executive vice president directly owned 1,236,037 shares in the company, valued at approximately $432,612,950. The trade was a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 184,598 shares of company stock valued at $49,955,566. 0.50% of the stock is currently owned by company insiders.

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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