Summitry LLC Buys New Holdings in Advanced Micro Devices, Inc. $AMD

Key Points

• Summitry LLC opened a new position in AMD during the fourth quarter, buying 1,204 shares worth about $258,000. Several other institutional investors also added to their AMD holdings, and hedge funds and institutions now own 71.34% of the stock.
• AMD’s latest quarter beat expectations, reporting $1.37 EPS on $10.25 billion in revenue, both ahead of analyst estimates. Revenue jumped 37.8% from a year earlier, and analysts now expect $6.2 EPS for the full year.
• Wall Street sentiment remains broadly bullish, with multiple firms raising price targets and MarketBeat citing a Moderate Buy consensus and a $410 target. The stock was also trading near its 52-week high after a recent 7.8% move higher.

Summitry LLC purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,204 shares of the semiconductor manufacturer's stock, valued at approximately $258,000.

A number of other large investors also recently modified their holdings of the company. Joseph Group Capital Management purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth $25,000. Koesten Hirschmann & Crabtree INC. increased its holdings in Advanced Micro Devices by 61.0% in the third quarter. Koesten Hirschmann & Crabtree INC. now owns 161 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 61 shares during the last quarter. Aviso Financial Inc. increased its holdings in Advanced Micro Devices by 400.0% in the third quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 160 shares during the last quarter. Delos Wealth Advisors LLC raised its stake in Advanced Micro Devices by 100.0% in the third quarter. Delos Wealth Advisors LLC now owns 200 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 100 shares in the last quarter. Finally, LFA Lugano Financial Advisors SA raised its stake in Advanced Micro Devices by 74.1% in the third quarter. LFA Lugano Financial Advisors SA now owns 235 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 100 shares in the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Key Advanced Micro Devices News

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

• Positive Sentiment: AMD is being viewed as a major AI beneficiary, with articles highlighting rising demand for its Instinct GPUs, EPYC CPUs, and rack-scale AI infrastructure products. OneQode to Deploy AMD Instinct GPUs and Plans for AMD Helios Rack-Scale Solution for Global AI Infrastructure
• Positive Sentiment: Wall Street appears to be raising its long-term expectations for AMD, with fresh commentary about a possible path to a $1 trillion market cap and higher price targets from analysts. What Will It Take for AMD’s Market Cap to Hit $1 Trillion?
• Positive Sentiment: Sector-wide strength is also helping AMD, as investors rotate into AI chip stocks beyond Nvidia and bid up semiconductor names broadly. Why Qualcomm, AMD, Intel, other AI stocks are surging sharply on Tuesday
• Neutral Sentiment: Some commentary is more cautionary, noting that momentum in AMD and other chip stocks could eventually face valuation pressure after a strong run. Intel, AMD, and Other Momentum Stocks Look Unstoppable. Look Again.
• Negative Sentiment: There is also competitive concern in the background, with one article arguing Nvidia could pressure AMD in CPUs and related AI markets, which could temper upside if competition intensifies. Nvidia Vs. AMD: Nvidia Will Eat AMD's CPU Lunch

Insider Transactions at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the sale, the executive vice president owned 324,527 shares in the company, valued at $140,000,947.80. This represents a 5.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 31,320 shares of the stock in a transaction on Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the sale, the executive vice president owned 1,236,037 shares of the company's stock, valued at approximately $432,612,950. This represents a 2.47% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 329,085 shares of company stock valued at $114,051,007 over the last ninety days. 0.50% of the stock is owned by insiders.

Advanced Micro Devices Stock Up 7.8%

Advanced Micro Devices stock opened at $503.89 on Wednesday. The company has a market capitalization of $821.64 billion, a P/E ratio of 165.21, a PEG ratio of 1.37 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. Advanced Micro Devices, Inc. has a fifty-two week low of $108.62 and a fifty-two week high of $506.96. The stock has a 50-day simple moving average of $309.03 and a 200-day simple moving average of $250.05.

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

Wall Street Analysts Forecast Growth

AMD has been the subject of several analyst reports. Mizuho upped their price objective on Advanced Micro Devices from $415.00 to $515.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. Wedbush increased their price objective on Advanced Micro Devices from $290.00 to $400.00 and gave the company an "outperform" rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their target price on 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. Rosenblatt Securities upped their price target on Advanced Micro Devices from $300.00 to $490.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Finally, Jefferies Financial Group lowered shares of Advanced Micro Devices from a "buy" rating to a "hold" rating in a research note on Wednesday, May 6th. Two analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $410.00.

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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