Advanced Micro Devices, Inc. (NASDAQ:AMD) was the target of a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 104,390,000 shares, a decrease of 12.2% from the November 14th total of 118,830,000 shares. Currently, 9.9% of the company’s shares are sold short. Based on an average daily volume of 51,020,000 shares, the short-interest ratio is presently 2.0 days.
AMD has been the topic of a number of analyst reports. Rosenblatt Securities upped their target price on Advanced Micro Devices from $42.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Argus upped their target price on Advanced Micro Devices to $40.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Royal Bank of Canada reaffirmed a “buy” rating and set a $50.00 target price (up previously from $44.00) on shares of Advanced Micro Devices in a research note on Friday, November 15th. Piper Jaffray Companies initiated coverage on Advanced Micro Devices in a research note on Monday, August 19th. They set a “neutral” rating and a $33.00 target price on the stock. Finally, Wedbush reaffirmed an “outperform” rating and set a $39.00 target price on shares of Advanced Micro Devices in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Advanced Micro Devices presently has an average rating of “Hold” and an average price target of $35.65.
Shares of NASDAQ:AMD opened at $42.59 on Friday. Advanced Micro Devices has a 52-week low of $16.03 and a 52-week high of $42.62. The stock has a market cap of $43.95 billion, a P/E ratio of 121.69, a price-to-earnings-growth ratio of 3.56 and a beta of 3.10. The business’s 50 day moving average is $37.43 and its 200 day moving average is $32.42. The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.40.
Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Advanced Micro Devices had a return on equity of 16.54% and a net margin of 3.47%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.13 EPS. On average, sell-side analysts anticipate that Advanced Micro Devices will post 0.46 EPS for the current fiscal year.
In other news, CAO Darla M. Smith sold 831 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $38.63, for a total transaction of $32,101.53. Following the transaction, the chief accounting officer now owns 20,779 shares of the company’s stock, valued at $802,692.77. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Forrest Eugene Norrod sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $39.71, for a total value of $1,985,500.00. Following the transaction, the senior vice president now directly owns 914,600 shares in the company, valued at approximately $36,318,766. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 475,393 shares of company stock worth $17,054,681. Company insiders own 1.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jericho Capital Asset Management L.P. bought a new stake in Advanced Micro Devices during the 3rd quarter valued at $71,709,000. Maverick Capital Ltd. bought a new stake in Advanced Micro Devices during the 3rd quarter valued at $7,960,000. Metropolitan Life Insurance Co NY boosted its position in Advanced Micro Devices by 16.7% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 208,993 shares of the semiconductor manufacturer’s stock valued at $6,059,000 after acquiring an additional 29,976 shares in the last quarter. Partner Investment Management L.P. purchased a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at $750,000. Finally, Cleararc Capital Inc. lifted its holdings in shares of Advanced Micro Devices by 21.1% during the 3rd quarter. Cleararc Capital Inc. now owns 16,347 shares of the semiconductor manufacturer’s stock valued at $474,000 after purchasing an additional 2,847 shares during the last quarter. 70.56% of the stock is currently owned by institutional investors and hedge funds.
About Advanced Micro Devices
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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