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

Principal Street Partners LLC lifted its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 92.2% in the third quarter, HoldingsChannel reports. The firm 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 hedge funds and other institutional investors have also recently bought and sold shares of AMD. Charles Schwab Investment Management Inc. increased its holdings in shares of Advanced Micro Devices by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 9,656,965 shares of the semiconductor manufacturer’s stock worth $1,584,515,000 after buying an additional 177,700 shares during the last quarter. Swiss National Bank increased its stake in Advanced Micro Devices by 0.3% during the third quarter. Swiss National Bank now owns 4,797,575 shares of the semiconductor manufacturer’s stock worth $787,186,000 after acquiring an additional 12,500 shares during the last quarter. Harvest Portfolios Group Inc. raised its position in 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 purchasing an additional 6,168 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Advanced Micro Devices by 30.2% in the 3rd quarter. Principal Financial Group Inc. now owns 2,537,968 shares of the semiconductor manufacturer’s stock valued at $416,430,000 after purchasing an additional 588,595 shares during the last quarter. Finally, Vectors Research Management LLC acquired a new stake in shares of Advanced Micro Devices during the 3rd quarter worth about $1,394,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Advanced Micro Devices

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AMD. UBS Group reduced their price target on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. StockNews.com lowered Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Citigroup cut their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a research report on Monday, October 28th. Finally, Benchmark reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD traded up $2.78 during trading on Tuesday, reaching $141.13. The company had a trading volume of 30,923,110 shares, compared to its average volume of 54,904,734. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The stock’s fifty day moving average price is $153.45 and its 200 day moving average price is $154.51. Advanced Micro Devices, Inc. has a fifty-two week low of $116.37 and a fifty-two week high of $227.30. The firm has a market capitalization of $229.03 billion, a price-to-earnings ratio of 127.14, a price-to-earnings-growth ratio of 1.91 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 earnings per share. As a group, equities research analysts predict that Advanced Micro Devices, Inc. will post 2.54 EPS for the current year.

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.