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

Advanced Micro Devices, Inc. (NASDAQ:AMD) was the target of a significant growth in short interest in October. As of October 31st, there was short interest totalling 57,100,000 shares, a growth of 20.4% from the October 15th total of 47,410,000 shares. Based on an average daily volume of 37,230,000 shares, the short-interest ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AMD. Bank of America restated a “buy” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. Susquehanna restated a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Edward Jones initiated coverage on shares of Advanced Micro Devices in a report on Tuesday, August 20th. They issued a “buy” rating for the company. TD Cowen lowered their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Evercore ISI increased their price target on Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Trading Down 2.8 %

NASDAQ:AMD opened at $134.90 on Friday. The firm has a market capitalization of $218.92 billion, a price-to-earnings ratio of 121.53, a PEG ratio of 1.93 and a beta of 1.71. Advanced Micro Devices has a 1-year low of $116.37 and a 1-year high of $227.30. The business’s 50-day moving average price is $154.51 and its two-hundred day moving average price is $155.02. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The company had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same period in the prior year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. On average, equities analysts expect that Advanced Micro Devices will post 2.53 earnings per share for the current year.

Insider Buying and Selling

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 293,347 shares of the company’s stock, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of the company. Creative Capital Management Investments LLC grew its stake in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. ZRC Wealth Management LLC boosted its holdings in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 75 shares during the period. Morton Brown Family Wealth LLC boosted its stake in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the period. Fairway Wealth LLC acquired a new position in Advanced Micro Devices in the 2nd quarter valued at $27,000. Finally, Semmax Financial Advisors Inc. increased its position in Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.