Choate Investment Advisors Acquires 1,245 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Choate Investment Advisors boosted its AMD stake by 26.2% in the fourth quarter, buying 1,245 additional shares and bringing its total holdings to 6,000 shares worth about $1.285 million.
• Institutional ownership remains strong, with multiple firms increasing positions and 71.34% of AMD’s stock now held by institutional investors.
• Analysts are increasingly bullish on AMD: several firms raised price targets, Goldman Sachs upgraded the stock to buy, and the consensus rating is Moderate Buy with an average target of $410.

Choate Investment Advisors increased its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 26.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,000 shares of the semiconductor manufacturer's stock after buying an additional 1,245 shares during the period. Choate Investment Advisors' holdings in Advanced Micro Devices were worth $1,285,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Impax Asset Management Group plc lifted its position in shares of Advanced Micro Devices by 326.5% in the 3rd quarter. Impax Asset Management Group plc now owns 52,068 shares of the semiconductor manufacturer's stock worth $8,424,000 after purchasing an additional 39,861 shares during the period. Jefferies Financial Group Inc. increased its position in shares of Advanced Micro Devices by 6,228.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 308,021 shares of the semiconductor manufacturer's stock worth $65,966,000 after buying an additional 303,154 shares during the period. Zweig DiMenna Associates LLC increased its position in shares of Advanced Micro Devices by 127.6% during the third quarter. Zweig DiMenna Associates LLC now owns 72,602 shares of the semiconductor manufacturer's stock worth $11,746,000 after buying an additional 40,708 shares during the period. Wedbush Securities Inc. raised its stake in Advanced Micro Devices by 7.8% during the third quarter. Wedbush Securities Inc. now owns 84,256 shares of the semiconductor manufacturer's stock worth $13,632,000 after buying an additional 6,095 shares during the last quarter. Finally, WealthPlan Investment Management LLC raised its stake in Advanced Micro Devices by 338.5% during the fourth quarter. WealthPlan Investment Management LLC now owns 6,157 shares of the semiconductor manufacturer's stock worth $1,319,000 after buying an additional 4,753 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 31,320 shares of the firm's stock in a transaction on Friday, April 24th. The stock was sold at an average price of $350.00, for a total transaction of $10,962,000.00. Following the transaction, the executive vice president directly owned 1,236,037 shares in the company, valued at approximately $432,612,950. This trade represents a 2.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Eugene Norrod sold 19,487 shares of Advanced Micro Devices stock in a transaction on 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 transaction, the executive vice president directly owned 324,527 shares in the company, valued at $140,000,947.80. This represents a 5.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 329,085 shares of company stock worth $114,051,007 in the last ninety days. Corporate insiders own 0.50% of the company's stock.

Analysts Set New Price Targets

AMD has been the topic of a number of research analyst reports. The Goldman Sachs Group raised shares of Advanced Micro Devices from a "neutral" rating to a "buy" rating and upped their price target for the company from $240.00 to $450.00 in a research report on Wednesday, May 6th. Melius Research set a $540.00 price objective on Advanced Micro Devices in a research note on Monday, May 18th. Weiss Ratings upgraded Advanced Micro Devices from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, May 6th. Benchmark raised their target price on Advanced Micro Devices from $325.00 to $485.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Susquehanna lifted their target price on Advanced Micro Devices from $375.00 to $450.00 and gave the stock a "positive" rating in a report on Wednesday, May 6th. Two investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $410.00.

Key Headlines Impacting Advanced Micro Devices

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

• Positive Sentiment: AMD reportedly plans to invest more than $10 billion in Taiwan’s AI market, a move aimed at expanding chip production capacity and deepening ties with packaging and testing partners. Advanced Micro Devices, Inc. (AMD) Plans to Invest more than $10B in Taiwan’s AI Market
• Positive Sentiment: Several analyst and market commentary pieces highlighted AMD as a key beneficiary of the AI chip boom, especially as demand shifts toward inference-focused workloads and investors look for “next Nvidia” opportunities. The 'Next Nvidia' Trade? Why Investors Are Suddenly Watching Advanced Micro Devices, Arm Holdings, and Marvell Technology
• Positive Sentiment: Recent bullish coverage says AMD’s AI roadmap, including ROCm adoption and rack-scale solutions, is strengthening its competitive position versus Nvidia and supporting the stock’s momentum. Advanced Micro Devices: 3 Things Favor This Nvidia Competitor, Reiterate Strong Buy
• Neutral Sentiment: AMD remained a heavily watched trading name, with articles noting it was among the most searched stocks and that investors are weighing its next moves after a strong run.
• Negative Sentiment: One report noted a stock sale by executive Forrest Eugene Norrod, which could slightly temper sentiment, though it appears smaller than the positive AI and expansion catalysts. Forrest Eugene Norrod Sells 19,487 Shares of Advanced Micro Devices NASDAQ: AMD Stock

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $467.51 on Tuesday. The stock has a market cap of $762.32 billion, a price-to-earnings ratio of 153.28, a PEG ratio of 1.37 and a beta of 2.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. Advanced Micro Devices, Inc. has a fifty-two week low of $107.67 and a fifty-two week high of $481.41. The firm's 50-day simple moving average is $302.82 and its 200 day simple moving average is $248.30.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.08. The firm 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%.The company's revenue for the quarter was up 37.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. As a group, research analysts anticipate that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current fiscal year.

Advanced Micro Devices Profile

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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