Clare Market Investments LLC Acquires New Stake in Advanced Micro Devices, Inc. $AMD

Key Points

• Clare Market Investments opened a new position in Advanced Micro Devices in the first quarter, buying 11,427 shares valued at about $2.33 million.
• Insider selling has been notable, with AMD executives Forrest Eugene Norrod and Paul Darren Grasby among those selling shares, and insiders collectively selling 374,739 shares worth $161.1 million over the last three months.
• AMD reported strong quarterly results, posting EPS of $1.37 and revenue of $10.25 billion, both above expectations, while analysts remain broadly positive with a Moderate Buy consensus and an average target price of $453.92.

Clare Market Investments LLC bought a new position in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 11,427 shares of the semiconductor manufacturer's stock, valued at approximately $2,325,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Columbia Bank lifted its position in shares of Advanced Micro Devices by 0.7% during the first quarter. Columbia Bank now owns 5,188 shares of the semiconductor manufacturer's stock worth $1,055,000 after purchasing an additional 34 shares in the last quarter. Evolution Wealth Management Inc. boosted its stake in shares of Advanced Micro Devices by 11.0% in the first quarter. Evolution Wealth Management Inc. now owns 352 shares of the semiconductor manufacturer's stock valued at $72,000 after purchasing an additional 35 shares during the period. Focused Wealth Management Inc grew its holdings in shares of Advanced Micro Devices by 2.7% in the first quarter. Focused Wealth Management Inc now owns 1,431 shares of the semiconductor manufacturer's stock valued at $291,000 after purchasing an additional 37 shares in the last quarter. James J. Burns & Company LLC increased its stake in Advanced Micro Devices by 2.3% during the 4th quarter. James J. Burns & Company LLC now owns 1,816 shares of the semiconductor manufacturer's stock worth $389,000 after buying an additional 40 shares during the period. Finally, Private Wealth Management Group LLC increased its stake in Advanced Micro Devices by 24.8% during the 1st quarter. Private Wealth Management Group LLC now owns 201 shares of the semiconductor manufacturer's stock worth $41,000 after buying an additional 40 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Forrest Eugene Norrod sold 19,487 shares of the company's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $431.40, for a total value of $8,406,691.80. Following the completion of the sale, the executive vice president directly owned 324,527 shares of the company's stock, valued at $140,000,947.80. This represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Paul Darren Grasby sold 24,376 shares of the firm's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $444.39, for a total value of $10,832,450.64. Following the transaction, the executive vice president owned 105,222 shares in the company, valued at $46,759,604.58. This represents a 18.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 374,739 shares of company stock worth $161,135,671 over the last three months. Company insiders own 0.50% of the company's stock.

Advanced Micro Devices Trading Down 6.3%

NASDAQ:AMD opened at $517.12 on Tuesday. Advanced Micro Devices, Inc. has a 1 year low of $135.91 and a 1 year high of $584.73. The stock has a market cap of $843.22 billion, a P/E ratio of 168.83, a P/E/G ratio of 1.53 and a beta of 2.47. 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 stock has a 50-day simple moving average of $470.75 and a 200-day simple moving average of $308.01.

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 the consensus estimate of $1.29 by $0.08. The firm had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $9.90 billion. Advanced Micro Devices had a return on equity of 9.55% and a net margin of 13.37%.The firm's revenue was up 37.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.96 earnings per share. As a group, analysts anticipate that Advanced Micro Devices, Inc. will post 6.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Oppenheimer cut shares of Advanced Micro Devices from a "market perform" rating to a "market perform" rating in a research report on Wednesday, May 6th. Morgan Stanley upped their price objective on Advanced Micro Devices from $360.00 to $410.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Needham & Company LLC upgraded Advanced Micro Devices to a "buy" rating in a report on Wednesday, May 6th. Rosenblatt Securities boosted their target price on Advanced Micro Devices from $300.00 to $490.00 and gave the stock a "buy" rating in a research note on Wednesday, May 6th. Finally, Jefferies Financial Group downgraded Advanced Micro Devices from a "buy" rating to a "hold" rating in a report on Wednesday, May 6th. 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. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $453.92.

Advanced Micro Devices News Roundup

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

• Positive Sentiment: Goldman Sachs and Wells Fargo both raised their price targets on AMD, citing strong server CPU demand, pricing power, and continued AI-related growth. AMD, Nvidia, Micron, Oracle, Dell, Intel, and More Stocks That Explain Today’s Market
• Positive Sentiment: AMD’s AI story got another boost after Turing said it began using AMD GPUs for 10% of its AI training and brought in AMD Ventures as a backer, expanding AMD’s reach into autonomous driving. AMD Gains AI Customer as $600 Million Self-Driving Startup Adopts Its GPUs
• Positive Sentiment: AMD is also benefiting from the view that it could close the gap with Nvidia as data center revenue and AI accelerator demand continue to accelerate, keeping long-term growth expectations elevated. AMD Is 11% Away From Joining the $1 Trillion Club. Could It Get There This Year?
• Neutral Sentiment: Cathie Wood’s ARK Invest sold about $8 million of AMD shares, which may add some near-term supply but does not change the company’s operating outlook. AMD Stock: Cathie Wood Sells $8M in AMD Despite Growing Analyst Optimism
• Neutral Sentiment: Investors are also watching commentary that AMD’s AI momentum is strong, but expectations may already be high after the stock’s sharp run and recent record levels. Advanced Micro Devices (AMD) Wins Fresh Analyst Backing, Is The Upside Already Priced In?
• Negative Sentiment: AMD is slipping with the broader semiconductor and AI trade as investors rotate out of high-multiple tech names and await fresh macro catalysts such as Fed minutes. NVDA, AMD, and INTC Forecasts – Stalling AI Trade Pressures Chip Stocks

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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