Cornerstone Wealth Group LLC Has $1.25 Million Stake in Advanced Micro Devices, Inc. $AMD

Cornerstone Wealth Group LLC trimmed its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 54.6% during the first quarter, Holdings Channel reports. The fund owned 6,157 shares of the semiconductor manufacturer’s stock after selling 7,401 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Advanced Micro Devices were worth $1,253,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Joseph Group Capital Management acquired a new position in Advanced Micro Devices during the fourth quarter valued at approximately $25,000. Sarver Vrooman Wealth Advisors acquired a new stake in shares of Advanced Micro Devices in the fourth quarter worth $27,000. Cornerstone Financial Management LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter worth $27,000. Basepoint Wealth LLC bought a new stake in shares of Advanced Micro Devices during the 4th quarter worth $30,000. Finally, Aviso Financial Inc. boosted its holdings in shares of Advanced Micro Devices by 400.0% during the 3rd quarter. Aviso Financial Inc. now owns 200 shares of the semiconductor manufacturer’s stock worth $32,000 after buying an additional 160 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on AMD. BTIG Research upgraded shares of Advanced Micro Devices to a “buy” rating in a report on Wednesday, May 6th. Barclays downgraded Advanced Micro Devices from an “overweight” rating to an “underweight” rating in a research report on Friday, June 12th. Erste Group Bank raised Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Stifel Nicolaus increased their target price on Advanced Micro Devices from $320.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, TD Cowen increased their target price on Advanced Micro Devices from $500.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $440.41.

Insider Activity

In other Advanced Micro Devices 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 completion of the transaction, the chief executive officer owned 2,896,899 shares of the company’s stock, valued at $1,334,572,400.31. This represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 31,320 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $350.00, for a total value of $10,962,000.00. Following the completion of the transaction, the executive vice president directly owned 1,236,037 shares of the company’s stock, valued at approximately $432,612,950. This trade represents a 2.47% 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. Over 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 News Summary

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple analysts raising AMD price targets in June, including a street-high call from UBS, as firms increasingly view AMD as a bigger player in AI infrastructure and data center CPUs.
• Positive Sentiment: AMD continues to gain credibility in enterprise AI, including recognition from Gartner as a leading server CPU company, which supports the long-term growth case for its data center business. Article Title
• Positive Sentiment: New business wins are also helping sentiment, including a definitive agreement with Rackspace Technology to deploy AMD-based infrastructure, reinforcing demand for AMD chips in cloud and enterprise workloads. Article Title
• Positive Sentiment: Several recent articles argue AMD still has meaningful upside as investors focus on its CPU and AI data center growth, with some bullish commentary suggesting the market may still be underappreciating its long-term earnings power.
• Neutral Sentiment: One recent piece highlighted both the positives and a caution on AMD, noting the stock’s huge six-month run and suggesting investors should stay aware of valuation risk after such a strong rally.
• Negative Sentiment: The semiconductor group has also been under pressure today, with AI chip names, including AMD, softening as momentum in the sector cools and investors rotate out of the space. Article Title
• Negative Sentiment: Bearish/neutral valuation commentary has also picked up, with some coverage questioning whether AMD’s rapid stock gains have already priced in a lot of future growth, which can weigh on the shares in the short term.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $521.58 on Monday. The company’s fifty day moving average is $445.21 and its two-hundred day moving average is $296.64. Advanced Micro Devices, Inc. has a 52-week low of $133.50 and a 52-week high of $562.99. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.72 and a quick ratio of 1.96. The firm has a market capitalization of $850.49 billion, a price-to-earnings ratio of 171.01, a P/E/G ratio of 1.54 and a beta of 2.50.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.08. Advanced Micro Devices had a net margin of 13.37% and a return on equity of 9.55%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $9.90 billion. During the same quarter in the prior year, the business earned $0.96 earnings per share. The firm’s revenue for the quarter was up 37.8% on a year-over-year basis. Equities research analysts forecast that Advanced Micro Devices, Inc. will post 6.15 EPS for the current 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.