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

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

Wall Street Analyst Weigh In

AMD has been the subject of a number of recent research reports. Mizuho decreased their price objective on Advanced Micro Devices from $180.00 to $160.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company decreased their price target on Advanced Micro Devices from $205.00 to $165.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Wolfe Research downgraded shares of Advanced Micro Devices from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Morgan Stanley cut their price objective on Advanced Micro Devices from $169.00 to $158.00 and set an “equal weight” rating for the company in a research report on Friday, December 20th. Finally, Citigroup decreased their target price on shares of 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. Two 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average price target of $178.61.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of Advanced Micro Devices stock in a transaction that occurred on 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 $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Lisa T. Su sold 76,496 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total value of $10,912,919.36. Following the completion of the sale, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. The trade was a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 197,036 shares of company stock worth $28,165,821. Corporate insiders own 0.65% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC boosted its position in Advanced Micro Devices by 17,137.3% in the 3rd quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock valued at $1,289,818,000 after buying an additional 7,815,305 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Advanced Micro Devices by 42.2% in the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock worth $1,381,679,000 after acquiring an additional 2,497,056 shares in the last quarter. State Street Corp boosted its holdings 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 purchasing an additional 1,580,035 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Advanced Micro Devices by 8.7% during 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 purchasing an additional 1,565,083 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in Advanced Micro Devices by 11.3% during the 3rd quarter. Van ECK Associates Corp now owns 9,620,878 shares of the semiconductor manufacturer’s stock worth $1,471,128,000 after purchasing an additional 975,220 shares during the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Trading Up 2.5 %

NASDAQ:AMD traded up $3.02 on Friday, hitting $121.46. 35,556,654 shares of the stock were exchanged, compared to its average volume of 34,940,360. The stock has a market cap of $197.11 billion, a PE ratio of 109.42, a PEG ratio of 1.03 and a beta of 1.66. Advanced Micro Devices has a fifty-two week low of $114.41 and a fifty-two week 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 stock has a fifty day moving average of $129.94 and a 200-day moving average of $145.32.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The firm 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 quarter in the prior year, the company earned $0.53 EPS. As a group, equities analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current fiscal year.

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.