Principal Street Partners LLC Boosts Holdings in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Principal Street Partners LLC raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 92.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,796 shares of the semiconductor manufacturer’s stock after buying an additional 2,301 shares during the period. Principal Street Partners LLC’s holdings in Advanced Micro Devices were worth $778,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AMD. Charles Schwab Investment Management Inc. boosted its position in shares of Advanced Micro Devices by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after purchasing an additional 177,700 shares during the period. Swiss National Bank increased its stake in Advanced Micro Devices by 0.3% in the 3rd quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after buying an additional 12,500 shares in the last quarter. Harvest Portfolios Group Inc. lifted its position in shares of Advanced Micro Devices by 4.4% in the third quarter. Harvest Portfolios Group Inc. now owns 146,445 shares of the semiconductor manufacturer’s stock valued at $24,029,000 after acquiring an additional 6,168 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Advanced Micro Devices by 30.2% in the third quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock worth $416,430,000 after acquiring an additional 588,595 shares during the period. Finally, Vectors Research Management LLC purchased a new stake in shares of Advanced Micro Devices during the third quarter worth about $1,394,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on AMD shares. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Roth Mkm reissued a “buy” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a report on Friday, October 11th. Finally, Bank of America reaffirmed a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Up 2.0 %

Shares of NASDAQ AMD traded up $2.78 during midday trading on Tuesday, reaching $141.13. 30,923,110 shares of the company’s stock traded hands, compared to its average volume of 54,904,734. The company has a market cap of $229.03 billion, a price-to-earnings ratio of 127.14, a P/E/G ratio of 1.91 and a beta of 1.71. The stock’s 50 day simple moving average is $153.45 and its 200-day simple moving average is $154.51. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. Advanced Micro Devices, Inc. has a one year low of $116.37 and a one year high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. During the same quarter last year, the firm earned $0.53 EPS. The business’s quarterly revenue was up 17.6% on a year-over-year basis. On average, analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current fiscal year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the completion of the transaction, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.