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

Principal Street Partners LLC trimmed its position in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 51.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,319 shares of the semiconductor manufacturer’s stock after selling 2,477 shares during the quarter. Principal Street Partners LLC’s holdings in Advanced Micro Devices were worth $280,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Segment Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 0.5% in the fourth quarter. Segment Wealth Management LLC now owns 16,038 shares of the semiconductor manufacturer’s stock worth $1,937,000 after purchasing an additional 87 shares during the last quarter. Koshinski Asset Management Inc. boosted its stake in shares of Advanced Micro Devices by 1.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 4,762 shares of the semiconductor manufacturer’s stock worth $575,000 after buying an additional 91 shares during the last quarter. TFG Advisers LLC boosted its stake in shares of Advanced Micro Devices by 2.0% in the fourth quarter. TFG Advisers LLC now owns 4,741 shares of the semiconductor manufacturer’s stock worth $573,000 after buying an additional 92 shares during the last quarter. BSW Wealth Partners boosted its stake in shares of Advanced Micro Devices by 1.1% in the fourth quarter. BSW Wealth Partners now owns 8,843 shares of the semiconductor manufacturer’s stock worth $1,068,000 after buying an additional 94 shares during the last quarter. Finally, DMC Group LLC boosted its stake in shares of Advanced Micro Devices by 0.8% in the fourth quarter. DMC Group LLC now owns 11,738 shares of the semiconductor manufacturer’s stock worth $1,418,000 after buying an additional 95 shares during the last quarter. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares of the company’s stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by insiders.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $113.51 on Wednesday. Advanced Micro Devices, Inc. has a one year low of $76.48 and a one year high of $187.28. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 2.62. The stock has a market cap of $184.05 billion, a PE ratio of 114.66, a P/E/G ratio of 1.11 and a beta of 1.97. The stock has a 50 day moving average price of $99.52 and a 200 day moving average price of $114.51.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.03. The company had revenue of $7.44 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.62 earnings per share. Equities research analysts expect that Advanced Micro Devices, Inc. will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 14th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AMD shares. Piper Sandler restated an “overweight” rating and issued a $125.00 target price (down previously from $140.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. KeyCorp downgraded Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, April 8th. Jefferies Financial Group downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and lowered their target price for the stock from $135.00 to $120.00 in a research note on Thursday, March 27th. Loop Capital lowered their target price on Advanced Micro Devices from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, TD Cowen upped their target price on Advanced Micro Devices from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.58.

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.