Chase Investment Counsel Corp Has $7.99 Million Position in Advanced Micro Devices, Inc. $AMD

Chase Investment Counsel Corp grew its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 10.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,306 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,552 shares during the period. Advanced Micro Devices comprises approximately 2.2% of Chase Investment Counsel Corp’s investment portfolio, making the stock its 14th largest position. Chase Investment Counsel Corp’s holdings in Advanced Micro Devices were worth $7,989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. North Dakota State Investment Board acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $11,826,000. Rossmore Private Capital increased its stake in shares of Advanced Micro Devices by 62.0% in the fourth quarter. Rossmore Private Capital now owns 8,521 shares of the semiconductor manufacturer’s stock valued at $1,825,000 after buying an additional 3,262 shares during the period. Roberts Glore & Co. Inc. IL acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $220,000. Abacus Wealth Partners LLC increased its stake in shares of Advanced Micro Devices by 146.7% in the fourth quarter. Abacus Wealth Partners LLC now owns 13,386 shares of the semiconductor manufacturer’s stock valued at $2,867,000 after buying an additional 7,961 shares during the period. Finally, Aspire Growth Partners LLC increased its stake in shares of Advanced Micro Devices by 5.9% in the fourth quarter. Aspire Growth Partners LLC now owns 2,783 shares of the semiconductor manufacturer’s stock valued at $596,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

Wall Street Analyst Weigh In

AMD has been the subject of several recent research reports. Bank of America upped their price objective on Advanced Micro Devices from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Erste Group Bank raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Citigroup increased their target price on shares of Advanced Micro Devices from $248.00 to $358.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Rosenblatt Securities increased their target price on shares of Advanced Micro Devices from $300.00 to $490.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Wedbush increased their target price on shares of Advanced Micro Devices from $290.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, May 4th. Two research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $396.95.

Insiders Place Their Bets

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 24,376 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $444.39, for a total transaction of $10,832,450.64. Following the transaction, the executive vice president directly owned 105,222 shares in the company, valued at approximately $46,759,604.58. This represents a 18.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lisa T. Su sold 125,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $445.51, for a total value of $55,688,750.00. Following the transaction, the chief executive officer owned 3,021,899 shares in the company, valued at $1,346,286,223.49. The trade was a 3.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 309,598 shares of company stock worth $105,644,316. Corporate insiders own 0.50% of the company’s stock.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Q1 earnings and revenue both topped expectations, with data center sales up sharply on strong demand for EPYC CPUs and Instinct GPUs.
• Positive Sentiment: Several analysts raised price targets after the earnings report, citing AMD’s accelerating AI and data center growth.
• Positive Sentiment: AMD expanded FSR 4.1 support to older GPUs and introduced new Ryzen PRO 9000 offerings, reinforcing product momentum in client and gaming.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $424.10 on Monday. The stock has a market capitalization of $691.54 billion, a price-to-earnings ratio of 139.05, a PEG ratio of 1.26 and a beta of 2.40. Advanced Micro Devices, Inc. has a 52-week low of $107.67 and a 52-week high of $469.21. The stock’s 50 day moving average price is $273.49 and its two-hundred day moving average price is $240.39. 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 (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 5th. The semiconductor manufacturer reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.08. The firm had revenue of $10.25 billion for 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 company’s revenue for the quarter was up 37.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 EPS. On average, equities analysts predict that Advanced Micro Devices, Inc. will post 6.2 earnings per share for the current year.

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.