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

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) was the target of a large growth in short interest in 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 trading volume of 36,290,000 shares, the days-to-cover ratio is presently 1.4 days.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded down $2.75 during midday trading on Monday, hitting $122.44. The stock had a trading volume of 30,354,684 shares, compared to its average volume of 53,310,402. The company's 50-day moving average price is $138.04 and its 200-day moving average price is $148.85. Advanced Micro Devices has a fifty-two week low of $117.90 and a fifty-two week high of $227.30. 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 company has a market capitalization of $198.70 billion, a P/E ratio of 110.31, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate 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 company's revenue was up 17.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, equities research analysts predict that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

Analysts Set New Price Targets

AMD has been the subject of several analyst reports. Bank of America cut shares of Advanced Micro Devices from a "buy" rating to a "neutral" rating and decreased their target price for the company from $180.00 to $155.00 in a research note on Monday, December 9th. Benchmark reissued a "buy" rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Piper Sandler restated an "overweight" rating and set a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. TD Cowen cut their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Finally, Citigroup lowered their price target on 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $191.96.

Insider Activity at Advanced Micro Devices

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $141.67, for a total transaction 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. This represents a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company's stock, 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. In the last ninety days, insiders have sold 197,036 shares of company stock valued at $28,165,821. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of institutional investors have recently added to or reduced their stakes in AMD. Creative Capital Management Investments LLC raised its position in 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 purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC increased 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 bought a new position in Advanced Micro Devices in the 2nd quarter valued at approximately $27,000. Abich Financial Wealth Management LLC boosted its position in 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 buying an additional 111 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in Advanced Micro Devices during the 3rd quarter worth approximately $41,000. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.

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