Summit Financial LLC Sells 1,714 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Summit Financial LLC lessened its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 23,172 shares of the semiconductor manufacturer’s stock after selling 1,714 shares during the period. Summit Financial LLC’s holdings in Advanced Micro Devices were worth $3,416,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Peoples Bank KS purchased a new position in shares of Advanced Micro Devices in the third quarter valued at about $26,000. Spartan Planning & Wealth Management purchased a new stake in shares of Advanced Micro Devices in the third quarter worth about $27,000. Gables Capital Management Inc. purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $29,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $30,000. Finally, Addison Advisors LLC lifted 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 worth $31,000 after buying an additional 62 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded down $14.11 during trading on Wednesday, reaching $144.27. 89,047,563 shares of the company’s stock traded hands, compared to its average volume of 72,484,023. Advanced Micro Devices, Inc. has a fifty-two week low of $81.02 and a fifty-two week high of $227.30. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. The firm has a market cap of $233.16 billion, a PE ratio of 282.06, a P/E/G ratio of 2.44 and a beta of 1.64. The company has a 50-day simple moving average of $177.04 and a 200-day simple moving average of $151.59.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period last year, the firm earned $0.43 EPS. As a group, analysts predict that Advanced Micro Devices, Inc. will post 2.64 earnings per share for the current year.

Insider Activity at Advanced Micro Devices

In related news, insider Victor Peng sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the transaction, the insider now directly owns 241,266 shares of the company’s stock, valued at approximately $42,248,089.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Victor Peng sold 100,000 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the transaction, the insider now directly owns 241,266 shares of the company’s stock, valued at approximately $42,248,089.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $177.57, for a total transaction of $2,876,634.00. Following the completion of the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $276,050,677.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 341,143 shares of company stock valued at $62,580,844. 0.65% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company boosted their target price on Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Mizuho decreased their price objective on Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler restated an “overweight” rating and set a $175.00 price objective (down from $195.00) on shares of Advanced Micro Devices in a research report on Wednesday. Bank of America upped their target price on Advanced Micro Devices from $165.00 to $195.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, Wedbush reissued an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the company. According to MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

Advanced Micro Devices 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.