Summit Securities Group LLC Buys Shares of 257 Advanced Micro Devices, Inc. (NASDAQ:AMD)

Summit Securities Group LLC purchased a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 257 shares of the semiconductor manufacturer’s stock, valued at approximately $31,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Advanced Micro Devices by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 150,210,152 shares of the semiconductor manufacturer’s stock valued at $18,143,884,000 after acquiring an additional 1,441,626 shares during the last quarter. State Street Corp boosted its position in shares of Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after purchasing an additional 1,580,035 shares during the period. Geode Capital Management LLC increased its holdings in Advanced Micro Devices by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock valued at $5,597,337,000 after purchasing an additional 441,924 shares during the last quarter. Fisher Asset Management LLC raised its position in Advanced Micro Devices by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 24,086,020 shares of the semiconductor manufacturer’s stock valued at $2,909,350,000 after purchasing an additional 290,784 shares during the period. Finally, Norges Bank acquired a new position in Advanced Micro Devices during the fourth quarter worth $2,867,193,000. 71.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Benchmark reiterated a “buy” rating and issued a $170.00 price objective on shares of Advanced Micro Devices in a report on Tuesday, February 18th. The Goldman Sachs Group lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and cut their price target for the stock from $175.00 to $129.00 in a research note on Friday, January 10th. Melius lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and lowered their price objective for the company from $160.00 to $129.00 in a research note on Tuesday, January 28th. Melius Research reaffirmed a “hold” rating and set a $129.00 target price (down from $160.00) on shares of Advanced Micro Devices in a research note on Tuesday, January 28th. Finally, Bank of America decreased their price target on shares of Advanced Micro Devices from $155.00 to $135.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $152.72.

Insider Activity

In other Advanced Micro Devices news, EVP Philip Guido acquired 4,645 shares of the company’s stock in a transaction on Friday, February 7th. The shares were bought at an average cost of $107.56 per share, for a total transaction of $499,616.20. Following the completion of the purchase, the executive vice president now owns 33,522 shares in the company, valued at $3,605,626.32. This trade represents a 16.09 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company’s stock.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $103.22 on Monday. The company has a fifty day moving average of $109.39 and a two-hundred day moving average of $130.68. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. Advanced Micro Devices, Inc. has a 1 year low of $94.73 and a 1 year high of $187.28. The company has a market capitalization of $167.27 billion, a PE ratio of 104.26, a P/E/G ratio of 1.11 and a beta of 1.74.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. As a group, analysts expect that Advanced Micro Devices, Inc. will post 3.87 earnings per share for the current year.

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.