Principal Financial Group Inc. Acquires 588,595 Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD)

Principal Financial Group Inc. raised its holdings in shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) by 30.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,537,968 shares of the semiconductor manufacturer’s stock after purchasing an additional 588,595 shares during the period. Principal Financial Group Inc. owned 0.16% of Advanced Micro Devices worth $416,430,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cherrydale Wealth Management LLC increased its holdings in Advanced Micro Devices by 4.7% in the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $212,000 after acquiring an additional 58 shares during the last quarter. Christopher J. Hasenberg Inc increased its holdings in Advanced Micro Devices by 12.0% in the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock valued at $97,000 after acquiring an additional 60 shares during the last quarter. Delta Financial Group Inc. increased its holdings in Advanced Micro Devices by 5.0% in the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock valued at $215,000 after acquiring an additional 63 shares during the last quarter. Trivant Custom Portfolio Group LLC increased its holdings in Advanced Micro Devices by 0.3% in the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock valued at $3,995,000 after acquiring an additional 65 shares during the last quarter. Finally, Wealth Effects LLC increased its holdings in Advanced Micro Devices by 0.7% in the 3rd quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after acquiring an additional 65 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock opened at $145.10 on Thursday. The stock has a market cap of $235.47 billion, a price-to-earnings ratio of 130.72, a price-to-earnings-growth ratio of 1.96 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. Advanced Micro Devices, Inc. has a 1 year low of $111.22 and a 1 year high of $227.30. The firm has a 50-day moving average of $154.36 and a two-hundred day moving average of $155.56.

Advanced Micro Devices (NASDAQ:AMD) last released 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 company had revenue of $6.82 billion during the quarter, compared to analysts’ expectations of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. On average, research analysts forecast that Advanced Micro Devices, Inc. will post 2.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

AMD has been the topic of a number of research reports. Benchmark reiterated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, October 31st. Wedbush reiterated an “outperform” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Edward Jones assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating on the stock. Finally, Truist Financial reduced their target price on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. One equities 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.