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

Advanced Micro Devices, Inc. (NASDAQ:AMD) was the target of a significant 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 volume of 36,290,000 shares, the days-to-cover ratio is presently 1.4 days.

Insider Buying and Selling

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total transaction 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 $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices 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 completion of the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 197,036 shares of company stock valued at $28,165,821 over the last quarter. 0.65% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AMD. Hantz Financial Services Inc. bought a new stake in shares of Advanced Micro Devices in the 2nd quarter worth approximately $652,000. Confluence Wealth Services Inc. raised its stake in Advanced Micro Devices by 13.1% in the 2nd quarter. Confluence Wealth Services Inc. now owns 3,295 shares of the semiconductor manufacturer’s stock valued at $534,000 after acquiring an additional 381 shares during the period. Farther Finance Advisors LLC boosted its position in Advanced Micro Devices by 30.3% during the second quarter. Farther Finance Advisors LLC now owns 17,844 shares of the semiconductor manufacturer’s stock worth $2,814,000 after purchasing an additional 4,152 shares during the period. Berry Wealth Group LP increased its stake in shares of Advanced Micro Devices by 10.8% in the second quarter. Berry Wealth Group LP now owns 3,831 shares of the semiconductor manufacturer’s stock worth $621,000 after purchasing an additional 374 shares in the last quarter. Finally, Summit Financial LLC raised its position in shares of Advanced Micro Devices by 29.7% in the second quarter. Summit Financial LLC now owns 29,389 shares of the semiconductor manufacturer’s stock valued at $4,767,000 after purchasing an additional 6,724 shares during the period. 71.34% of the stock is currently owned by hedge funds and other institutional investors.

Advanced Micro Devices Stock Down 1.3 %

Advanced Micro Devices stock opened at $120.79 on Wednesday. The firm has a market capitalization of $196.02 billion, a price-to-earnings ratio of 108.82, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66. 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 has a 1-year low of $117.90 and a 1-year high of $227.30. The firm’s fifty day moving average price is $137.37 and its two-hundred day moving average price is $148.58.

Advanced Micro Devices (NASDAQ:AMD) last posted its 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 company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities research analysts predict that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on AMD shares. UBS Group decreased their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Citigroup dropped their target price on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley reduced their price target on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating on the stock in a report on Friday, December 20th. TD Cowen dropped their price objective 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. Finally, Bank of America lowered shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $180.00 to $155.00 in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $191.96.

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.