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

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

Insider Activity

In related news, CEO Lisa T. Su sold 80,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares in the company, valued at $513,150,048.94. This represents a 2.19 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares in the company, valued at $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently modified their holdings of AMD. Vanguard Group Inc. boosted its position in shares of Advanced Micro Devices by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares during the last quarter. State Street Corp lifted its stake in Advanced Micro Devices by 2.3% in the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after buying an additional 1,580,035 shares during the period. Geode Capital Management LLC boosted its holdings in Advanced Micro Devices by 1.3% during the third quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after buying an additional 441,924 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Advanced Micro Devices by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after buying an additional 644,039 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Advanced Micro Devices by 8.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 19,472,211 shares of the semiconductor manufacturer’s stock valued at $3,195,000,000 after acquiring an additional 1,565,083 shares during the last quarter. 71.34% of the stock is owned by institutional investors.

Advanced Micro Devices Trading Down 2.8 %

AMD stock opened at $134.90 on Friday. Advanced Micro Devices has a 1-year low of $116.37 and a 1-year high of $227.30. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $154.51 and its 200-day moving average is $155.02. The firm has a market cap of $218.92 billion, a P/E ratio of 121.53, a P/E/G ratio of 1.93 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the prior year, the business posted $0.53 earnings per share. The business’s revenue was up 17.6% compared to the same quarter last year. Equities analysts anticipate that Advanced Micro Devices will post 2.53 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AMD has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. Susquehanna reissued a “positive” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Evercore ISI boosted their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Barclays cut their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $192.79.

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.