Advanced Micro Devices, Inc. (NASDAQ:AMD) is Summa Corp.'s 2nd Largest Position

Summa Corp. raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 127,200 shares of the semiconductor manufacturer's stock after buying an additional 3,900 shares during the period. Advanced Micro Devices comprises approximately 7.5% of Summa Corp.'s investment portfolio, making the stock its 2nd biggest position. Summa Corp.'s holdings in Advanced Micro Devices were worth $15,365,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMD. Creative Capital Management Investments LLC raised its stake in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 86 shares in the last quarter. ZRC Wealth Management LLC increased its holdings in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 75 shares during the period. Global Wealth Strategies & Associates bought a new stake in Advanced Micro Devices during the 4th quarter valued at $26,000. Retirement Wealth Solutions LLC purchased a new stake in shares of Advanced Micro Devices in the 4th quarter worth $32,000. Finally, FSA Wealth Management LLC bought a new position in shares of Advanced Micro Devices during the 3rd quarter worth $41,000. Institutional investors own 71.34% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on AMD. Loop Capital began coverage on shares of Advanced Micro Devices in a report on Tuesday, January 14th. They issued a "buy" rating and a $175.00 price target for the company. Benchmark restated a "buy" rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Thursday, October 31st. Morgan Stanley dropped their target price on Advanced Micro Devices from $169.00 to $158.00 and set an "equal weight" rating on the stock in a research report on Friday, December 20th. The Goldman Sachs Group cut Advanced Micro Devices from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. Finally, UBS Group cut their target price on Advanced Micro Devices from $210.00 to $205.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $171.86.

Advanced Micro Devices Stock Performance

Shares of NASDAQ AMD traded up $1.66 during midday trading on Thursday, reaching $119.01. 21,442,896 shares of the stock were exchanged, compared to its average volume of 38,384,008. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market cap of $193.14 billion, a price-to-earnings ratio of 107.19, a PEG ratio of 1.09 and a beta of 1.66. The firm has a 50-day simple moving average of $126.74 and a two-hundred day simple moving average of $142.09. Advanced Micro Devices, Inc. has a twelve month low of $112.80 and a twelve month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the business earned $0.53 earnings per share. The firm's revenue was up 17.6% on a year-over-year basis. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Activity

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at $41,558,469.49. The trade was a 12.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company's stock, valued at approximately $508,834,266.92. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 197,036 shares of company stock worth $28,165,821 over the last 90 days. 0.73% of the stock is currently owned by company insiders.

Advanced Micro Devices Company 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.