Principal Securities Inc. Trims Stake in Advanced Micro Devices, Inc. (NASDAQ:AMD)

Principal Securities Inc. reduced its stake in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 42.0% in the 3rd quarter, Holdings Channel reports. The fund owned 27,679 shares of the semiconductor manufacturer’s stock after selling 20,026 shares during the period. Principal Securities Inc.’s holdings in Advanced Micro Devices were worth $4,541,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of AMD. Hennion & Walsh Asset Management Inc. acquired a new stake in Advanced Micro Devices in the first quarter valued at approximately $264,000. Norden Group LLC boosted its stake in shares of Advanced Micro Devices by 41.1% in the first quarter. Norden Group LLC now owns 5,752 shares of the semiconductor manufacturer’s stock worth $1,038,000 after acquiring an additional 1,675 shares during the last quarter. Harbor Advisors LLC boosted its stake in shares of Advanced Micro Devices by 100.0% in the first quarter. Harbor Advisors LLC now owns 4,000 shares of the semiconductor manufacturer’s stock worth $722,000 after acquiring an additional 2,000 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Advanced Micro Devices by 10.7% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 100,780 shares of the semiconductor manufacturer’s stock worth $18,190,000 after acquiring an additional 9,701 shares during the last quarter. Finally, Tobam boosted its stake in shares of Advanced Micro Devices by 112.3% in the first quarter. Tobam now owns 7,153 shares of the semiconductor manufacturer’s stock worth $1,291,000 after acquiring an additional 3,784 shares during the last quarter. 71.34% of the stock is owned by institutional investors and hedge funds.

Advanced Micro Devices Price Performance

AMD stock opened at $141.86 on Friday. The company has a current ratio of 2.50, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $229.60 billion, a PE ratio of 127.80, a P/E/G ratio of 2.03 and a beta of 1.70. Advanced Micro Devices, Inc. has a 12-month low of $105.91 and a 12-month high of $227.30. The business’s fifty day moving average price is $154.75 and its 200 day moving average price is $155.81.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company’s quarterly revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 EPS. On average, sell-side analysts anticipate that Advanced Micro Devices, Inc. will post 2.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMD shares. Roth Mkm reaffirmed a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. Edward Jones started coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating on the stock. Robert W. Baird lowered their price target on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. Truist Financial lowered their price target on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Finally, TD Cowen lowered their price objective on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday. One research 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $192.79.

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.