Short Interest in Advanced Micro Devices, Inc. (NASDAQ:AMD) Declines By 13.5%

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 49,390,000 shares, a decline of 13.5% from the October 31st total of 57,100,000 shares. Based on an average daily volume of 34,740,000 shares, the short-interest ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AMD shares. Evercore ISI upped 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. Cantor Fitzgerald reissued an "overweight" rating and issued a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. UBS Group dropped their target price on Advanced Micro Devices from $210.00 to $205.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Citigroup decreased their price target on Advanced Micro Devices from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Finally, Morgan Stanley reduced their target price on Advanced Micro Devices from $178.00 to $169.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 30th. One equities 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $192.79.

Advanced Micro Devices Price Performance

Advanced Micro Devices stock traded up $0.94 during trading hours on Friday, hitting $137.18. 16,085,714 shares of the company traded hands, compared to its average volume of 29,776,416. Advanced Micro Devices has a 1-year low of $116.37 and a 1-year 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 firm's 50-day simple moving average is $152.16 and its two-hundred day simple moving average is $154.03. The firm has a market cap of $222.62 billion, a P/E ratio of 123.59, a P/E/G ratio of 1.89 and a beta of 1.71.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter last year, the firm earned $0.53 earnings per share. The company's revenue for the quarter was up 17.6% on a year-over-year basis. As a group, analysts forecast that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Lisa T. Su sold 80,000 shares of the business's stock in a transaction 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 sale, the chief executive officer now owns 3,566,762 shares of the company's stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business's 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 sale, the executive vice president now directly owns 293,347 shares in the company, valued at approximately $41,558,469.49. This represents a 12.14 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Synovus Financial Corp grew its stake in shares of Advanced Micro Devices by 26.2% in the third quarter. Synovus Financial Corp now owns 33,769 shares of the semiconductor manufacturer's stock valued at $5,541,000 after buying an additional 7,006 shares in the last quarter. Destination Wealth Management grew its position in Advanced Micro Devices by 32.4% in the third quarter. Destination Wealth Management now owns 11,680 shares of the semiconductor manufacturer's stock valued at $1,916,000 after acquiring an additional 2,855 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of Advanced Micro Devices by 189.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 16,095 shares of the semiconductor manufacturer's stock worth $2,641,000 after purchasing an additional 10,539 shares during the last quarter. Sfmg LLC grew its holdings in shares of Advanced Micro Devices by 109.8% during the third quarter. Sfmg LLC now owns 52,789 shares of the semiconductor manufacturer's stock worth $8,662,000 after purchasing an additional 27,633 shares during the last quarter. Finally, World Investment Advisors LLC lifted its stake in shares of Advanced Micro Devices by 430.6% in the third quarter. World Investment Advisors LLC now owns 61,505 shares of the semiconductor manufacturer's stock worth $10,092,000 after acquiring an additional 49,913 shares during the period. 71.34% of the stock is currently owned by institutional investors and hedge funds.

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.