Short Interest in Advanced Micro Devices, Inc. (NASDAQ:AMD) Increases By 15.0%

Advanced Micro Devices, Inc. (NASDAQ:AMD) saw a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 59,400,000 shares, a growth of 15.0% from the December 15th total of 51,640,000 shares. Based on an average daily volume of 37,260,000 shares, the days-to-cover ratio is currently 1.6 days.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AMD. UBS Group dropped their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Mizuho lowered their target price on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Finally, Bank of America lowered Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their price target for the company from $180.00 to $155.00 in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $178.61.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the 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 transaction, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s 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 transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This trade represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,036 shares of company stock worth $28,165,821 in the last ninety days. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Creative Capital Management Investments LLC increased its position in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares in the last quarter. ZRC Wealth Management LLC increased its holdings in shares of Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 75 shares during the last quarter. Global Wealth Strategies & Associates purchased a new stake in Advanced Micro Devices during the fourth quarter valued at about $26,000. Retirement Wealth Solutions LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $32,000. Finally, Abich Financial Wealth Management LLC raised its holdings in Advanced Micro Devices by 101.8% in the second quarter. Abich Financial Wealth Management LLC now owns 220 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 2.5 %

Advanced Micro Devices stock opened at $121.46 on Friday. The stock’s 50 day moving average price is $130.47 and its 200 day moving average price is $145.58. Advanced Micro Devices has a 1-year low of $114.41 and a 1-year high of $227.30. The company has a market cap of $197.11 billion, a PE ratio of 109.42, a price-to-earnings-growth ratio of 1.03 and a beta of 1.66. 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 (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, meeting analysts’ consensus estimates of $0.92. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business’s revenue was up 17.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 EPS. On average, sell-side analysts predict that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

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.