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

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

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 40,540 shares of the company’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 transaction, the executive vice president now directly owns 293,347 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lisa T. Su sold 80,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at approximately $513,150,048.94. This represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp raised its stake in Advanced Micro Devices by 2.3% during the third quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock worth $11,513,538,000 after buying an additional 1,580,035 shares during the last quarter. Geode Capital Management LLC grew its holdings in Advanced Micro Devices by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 34,243,843 shares of the semiconductor manufacturer’s stock worth $5,597,337,000 after acquiring an additional 441,924 shares during the period. Fisher Asset Management LLC raised its position in shares of Advanced Micro Devices by 2.8% in the 3rd quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after acquiring an additional 644,039 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Advanced Micro Devices by 8.7% in 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 during the period. Finally, Legal & General Group Plc boosted its position in shares of Advanced Micro Devices by 1.4% during the 2nd quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock valued at $2,159,039,000 after purchasing an additional 188,580 shares in the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Up 0.7 %

Shares of NASDAQ AMD opened at $137.18 on Monday. Advanced Micro Devices has a 1 year low of $116.37 and a 1 year high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78. The firm has a market cap of $222.62 billion, a PE ratio of 123.59, a price-to-earnings-growth ratio of 1.89 and a beta of 1.71. The company has a 50 day simple moving average of $152.16 and a 200 day simple moving average of $154.03.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, research analysts forecast that Advanced Micro Devices will post 2.54 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AMD shares. Citigroup decreased their target price 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. Piper Sandler reissued an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. UBS Group decreased their price target 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. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Finally, Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $192.79.

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.