Summit Wealth Partners LLC Purchases New Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Summit Wealth Partners LLC acquired a new position in Advanced Micro Devices, Inc. (NASDAQ:AMD) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,424 shares of the semiconductor manufacturer’s stock, valued at approximately $231,000.

A number of other institutional investors and hedge funds have also made changes to their positions in AMD. Tradewinds Capital Management LLC grew its position in Advanced Micro Devices by 102.9% during the 1st quarter. Tradewinds Capital Management LLC now owns 140 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 71 shares during the last quarter. Semmax Financial Advisors Inc. increased its position in shares of Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 139 shares in the last quarter. Fairway Wealth LLC purchased a new position in Advanced Micro Devices in the 2nd quarter worth approximately $27,000. Valued Wealth Advisors LLC lifted its position in Advanced Micro Devices by 70.7% in the 1st quarter. Valued Wealth Advisors LLC now owns 169 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 70 shares in the last quarter. Finally, Morton Brown Family Wealth LLC boosted its stake in Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $159.75 on Wednesday. The firm has a market capitalization of $258.21 billion, a price-to-earnings ratio of 234.93, a PEG ratio of 2.14 and a beta of 1.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The business has a 50 day simple moving average of $146.75 and a 200-day simple moving average of $158.17. Advanced Micro Devices, Inc. has a 1 year low of $93.11 and a 1 year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. Equities analysts forecast that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Robert W. Baird lowered their price objective on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Cantor Fitzgerald cut their target price on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Morgan Stanley increased their price target on Advanced Micro Devices from $176.00 to $178.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, Susquehanna restated a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $193.45.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.73% of the company’s stock.

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.