Advanced Micro Devices, Inc. (NASDAQ:AMD) Sees Large Increase in Short Interest

Advanced Micro Devices, Inc. (NASDAQ:AMD) was the recipient of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 51,640,000 shares, a growth of 14.7% from the November 30th total of 45,030,000 shares. Based on an average daily trading volume, of 36,290,000 shares, the days-to-cover ratio is presently 1.4 days.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Barclays dropped their price target on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Benchmark reiterated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 31st. TD Cowen reduced their price target on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Citigroup cut their price objective on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Evercore ISI boosted their target price on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $191.96.

Insiders Place Their Bets

In other news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total value of $5,743,301.80. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of Advanced Micro Devices stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Large investors have recently modified their holdings of the stock. Creative Capital Management Investments LLC grew its holdings in Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the period. ZRC Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 90.4% in the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 75 shares during the period. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices during the 2nd quarter valued at $27,000. Abich Financial Wealth Management LLC grew its stake in shares of Advanced Micro Devices by 101.8% during the 2nd quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 111 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in Advanced Micro Devices in the 3rd quarter worth about $41,000. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

AMD stock traded down $2.75 during midday trading on Monday, hitting $122.44. The company’s stock had a trading volume of 30,354,684 shares, compared to its average volume of 53,310,402. The stock has a market cap of $198.70 billion, a price-to-earnings ratio of 110.31, a PEG ratio of 1.88 and a beta of 1.65. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The stock’s 50-day moving average price is $138.04 and its 200 day moving average price is $148.85. Advanced Micro Devices has a 1 year low of $117.90 and a 1 year high of $227.30.

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

About Advanced Micro Devices

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.