Checchi Capital Advisers LLC Acquires 1,154 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Checchi Capital Advisers LLC increased its AMD stake by 15.6% in the first quarter, buying 1,154 additional shares and bringing its total holding to 8,564 shares worth about $1.74 million.
• Several other institutional investors also added to AMD positions, and institutional ownership remains high at 71.34% of the company’s stock.
• AMD has seen mixed insider activity: both EVP Forrest Eugene Norrod and CEO Lisa T. Su sold shares in recent months, while analysts remain broadly optimistic with a “Moderate Buy” rating and an average price target of $468.65.

Checchi Capital Advisers LLC boosted its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 15.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,564 shares of the semiconductor manufacturer's stock after acquiring an additional 1,154 shares during the quarter. Checchi Capital Advisers LLC's holdings in Advanced Micro Devices were worth $1,742,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AMD. First National Bank of Hutchinson increased its stake in Advanced Micro Devices by 4.0% in the 1st quarter. First National Bank of Hutchinson now owns 5,617 shares of the semiconductor manufacturer's stock worth $1,143,000 after buying an additional 214 shares during the period. Maryland State Retirement & Pension System boosted its position in Advanced Micro Devices by 0.3% in the 1st quarter. Maryland State Retirement & Pension System now owns 80,722 shares of the semiconductor manufacturer's stock valued at $16,421,000 after buying an additional 243 shares during the period. Hillsdale Investment Management Inc. grew its stake in Advanced Micro Devices by 21.2% in the 1st quarter. Hillsdale Investment Management Inc. now owns 24,100 shares of the semiconductor manufacturer's stock worth $4,903,000 after acquiring an additional 4,220 shares in the last quarter. AMG National Trust Bank grew its stake in Advanced Micro Devices by 18.1% in the 1st quarter. AMG National Trust Bank now owns 2,411 shares of the semiconductor manufacturer's stock worth $490,000 after acquiring an additional 370 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Advanced Micro Devices by 0.8% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 55,543 shares of the semiconductor manufacturer's stock worth $11,299,000 after acquiring an additional 431 shares during the period. Institutional investors own 71.34% of the company's stock.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the firm's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total transaction of $8,406,691.80. Following the sale, the executive vice president owned 324,527 shares of the company's stock, valued at $140,000,947.80. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $460.69, for a total value of $57,586,250.00. Following the completion of the transaction, the chief executive officer owned 2,896,899 shares in the company, valued at $1,334,572,400.31. This trade represents a 4.14% 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 341,630 shares of company stock worth $152,147,456 over the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: UBS raised its price target on AMD to $700 and other firms also lifted targets, reinforcing confidence in AMD’s AI accelerators and server CPU growth. “Three Major AI Customers”: 5-Star Analyst Raises AMD Stock Price Target to $700
• Positive Sentiment: Rosenblatt and other analysts turned increasingly bullish ahead of AMD’s upcoming earnings, with some calling it a top pick on expectations for a beat-and-raise quarter. Rosenblatt Raises AMD Stock Price Target Ahead of Q2 Earnings, Calls It a ‘Top Pick’
• Positive Sentiment: Bank of America said AMD could benefit from surging AI server demand and may be entering a stronger phase of its AI infrastructure story, including potential rack-level competition with Nvidia. AMD’s MI450 Could Finally Challenge Nvidia at the Rack Level
• Neutral Sentiment: Commentary pieces highlighted AMD as a strong AI contender and compared it with Nvidia and Broadcom, keeping investor attention focused on its growth potential rather than near-term fundamentals. Advanced Micro Devices: A Strong Contender in the Tech Arena
• Negative Sentiment: AMD is being dragged lower by a broader chip-sector pullback tied to Micron weakness and renewed talk that semiconductors are a crowded trade. Micron Drops 8% on China Competition Fears, Dragging Intel, AMD, and Marvell

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $529.14 on Thursday. The firm has a market cap of $862.82 billion, a price-to-earnings ratio of 173.49, a PEG ratio of 1.61 and a beta of 2.47. The company's 50 day moving average is $501.23 and its 200 day moving average is $326.46. The company has a quick ratio of 1.96, a current ratio of 2.72 and a debt-to-equity ratio of 0.04. Advanced Micro Devices, Inc. has a 52-week low of $149.22 and a 52-week high of $584.73.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.08. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.Advanced Micro Devices's revenue was up 37.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 6.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

AMD has been the subject of several research analyst reports. DA Davidson lifted their price target on shares of Advanced Micro Devices from $375.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, May 6th. Northland Securities reissued a "market perform" rating and issued a $260.00 price objective on shares of Advanced Micro Devices in a research note on Monday, April 27th. Wolfe Research set a $450.00 price objective on Advanced Micro Devices and gave the stock an "outperform" rating in a report on Monday, June 15th. Barclays lowered Advanced Micro Devices from an "overweight" rating to an "underweight" rating in a research report on Friday, June 12th. Finally, Royal Bank Of Canada upped their target price on Advanced Micro Devices from $325.00 to $400.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and an average price target of $468.65.

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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