Cidel Asset Management Inc. Acquires 53,584 Shares of Advanced Micro Devices, Inc. $AMD

Key Points

• Cidel Asset Management dramatically increased its stake in Advanced Micro Devices, buying 53,584 additional shares in the first quarter and lifting its holdings to 56,073 shares worth about $11.4 million.
• AMD continues to attract significant institutional investor interest overall, with firms like Norges Bank, Jennison Associates, and others making large moves; institutional investors now own 71.34% of the stock.
• Despite some mixed signals from insider selling, analysts remain broadly bullish on AMD, with a consensus rating of Moderate Buy and an average price target of $430.68, while the stock has recently traded well above that level.

Cidel Asset Management Inc. raised its holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) by 2,152.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 56,073 shares of the semiconductor manufacturer's stock after buying an additional 53,584 shares during the quarter. Cidel Asset Management Inc.'s holdings in Advanced Micro Devices were worth $11,407,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $4,929,312,000. Jennison Associates LLC increased its position in Advanced Micro Devices by 181.6% during the fourth quarter. Jennison Associates LLC now owns 10,910,310 shares of the semiconductor manufacturer's stock worth $2,336,552,000 after acquiring an additional 7,035,991 shares during the period. Cardano Risk Management B.V. acquired a new position in Advanced Micro Devices during the 4th quarter valued at $1,000,783,000. Wellington Management Group LLP raised its stake in Advanced Micro Devices by 335.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,847,825 shares of the semiconductor manufacturer's stock valued at $784,330,000 after purchasing an additional 3,735,807 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Advanced Micro Devices by 340.1% in the 4th quarter. Franklin Resources Inc. now owns 4,747,834 shares of the semiconductor manufacturer's stock valued at $1,016,796,000 after purchasing an additional 3,669,054 shares during the period. 71.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMD has been the topic of several research reports. Royal Bank Of Canada boosted their price objective on shares of Advanced Micro Devices from $325.00 to $400.00 and gave the stock a "sector perform" rating in a report on Wednesday, May 6th. Melius Research set a $540.00 target price on shares of Advanced Micro Devices in a research note on Monday, May 18th. Cantor Fitzgerald boosted their price target on Advanced Micro Devices to $500.00 and gave the company an "overweight" rating in a research note on Wednesday, May 6th. The Goldman Sachs Group raised Advanced Micro Devices from a "buy" rating to a "buy" rating in a report on Friday, June 12th. Finally, Citigroup downgraded Advanced Micro Devices from a "buy" rating to a "market perform" rating in a research report on Friday, June 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Advanced Micro Devices has an average rating of "Moderate Buy" and a consensus target price of $430.68.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: AMD continues to get bullish attention for its AI and data-center growth, with recent coverage citing expanding AI server CPU demand, rising EPYC adoption, and a larger long-term server CPU market opportunity. Why AMD's AI Position Is Expanding
• Positive Sentiment: AMD’s MEXT acquisition is being viewed as an AI infrastructure and memory-strategy boost that could support higher revenue and deeper product differentiation. How AMD’s MEXT Deal Expands Its Memory Strategy Beyond GPUs and Data-Center CPUs
• Positive Sentiment: Several articles point to strong analyst support and high price targets for AMD, suggesting Wall Street still sees upside despite the recent run-up. Over 40 Analysts Rate AMD a Buy, Here’s Why We Agree
• Positive Sentiment: New product and ecosystem news, including a mini PC powered by AMD Ryzen AI 9 HX 470 and expanded FSR GPU support, highlights ongoing demand for AMD-based hardware. Next-Gen AI Powerhouse: Reatan Announces Global Launch of Reatan X8 Mini PC Powered by AMD Ryzen AI 9 HX 470 Processor
• Neutral Sentiment: Commentary around AMD’s recent rally and momentum is mixed, with some investors urging caution and others arguing the stock could still move higher if AI growth stays intact. AMDY: Take Profits Once We See AMD Momentum Shift
• Negative Sentiment: AMD is being hit by a broader chip-sector downgrade as tech and AI stocks fall on hawkish Fed expectations and profit-taking, dragging the shares lower alongside peers like Nvidia and Micron. Nvidia, AMD, and Micron Slide as Global AI Stock Sell-Off Hits Chip Sector
• Negative Sentiment: Several reports also point to profit-taking after AMD’s strong run, with traders locking in gains while waiting for the next catalyst. AMD falls as investors appear to take profits amid lingering chip-sector caution
• Negative Sentiment: Recent insider selling has also been noted, which may be adding some caution around the stock’s near-term valuation. Sell alert? AMD insiders dumped $60 million worth of stock since June started

Insider Activity at Advanced Micro Devices

In other news, CEO Lisa T. Su sold 125,000 shares of the company's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $460.69, for a total value of $57,586,250.00. Following the sale, the chief executive officer directly owned 2,896,899 shares in the company, valued at approximately $1,334,572,400.31. This represents a 4.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Nora Denzel sold 8,626 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $522.00, for a total value of $4,502,772.00. Following the completion of the transaction, the director directly owned 87,173 shares of the company's stock, valued at approximately $45,504,306. The trade was a 9.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 378,032 shares of company stock valued at $161,876,596. Corporate insiders own 0.50% of the company's stock.

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock opened at $519.85 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.96 and a current ratio of 2.72. The firm's 50-day simple moving average is $428.95 and its 200-day simple moving average is $290.18. Advanced Micro Devices, Inc. has a twelve month low of $132.93 and a twelve month high of $562.99. The firm has a market cap of $847.67 billion, a P/E ratio of 170.44, a price-to-earnings-growth ratio of 1.63 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 13.37% and a return on equity of 9.55%. The company's quarterly revenue was up 37.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, research analysts expect that Advanced Micro Devices, Inc. will post 6.15 EPS for the current fiscal year.

Advanced Micro Devices Company 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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