Short Interest in Advanced Micro Devices, Inc. (NASDAQ:AMD) Decreases By 8.8%

Advanced Micro Devices, Inc. (NASDAQ:AMD) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 45,030,000 shares, a drop of 8.8% from the November 15th total of 49,390,000 shares. Based on an average daily volume of 34,410,000 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Ratings Changes

AMD has been the topic of several research analyst reports. Edward Jones initiated coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a “buy” rating on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price target (down previously from $200.00) on shares of Advanced Micro Devices in a report on Wednesday, October 30th. TD Cowen decreased their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley cut their target price on shares of 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. Finally, Roth Mkm reiterated a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research note on Friday, October 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $192.36.

Insider Buying and Selling

In related news, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction that occurred 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. The trade was a 12.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the completion of the transaction, the chief executive officer now owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. This represents a 2.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 197,036 shares of company stock worth $28,165,821 over the last three months. 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 stock. MONECO Advisors LLC raised its position in shares of Advanced Micro Devices by 17.0% during the 2nd quarter. MONECO Advisors LLC now owns 6,716 shares of the semiconductor manufacturer’s stock valued at $1,089,000 after buying an additional 975 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Advanced Micro Devices by 327.3% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 6,251 shares of the semiconductor manufacturer’s stock valued at $1,014,000 after buying an additional 4,788 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Advanced Micro Devices by 0.4% during the second quarter. Nisa Investment Advisors LLC now owns 461,493 shares of the semiconductor manufacturer’s stock valued at $74,859,000 after acquiring an additional 1,853 shares during the last quarter. Meridian Investment Counsel Inc. boosted its holdings in shares of Advanced Micro Devices by 20.4% during the second quarter. Meridian Investment Counsel Inc. now owns 1,774 shares of the semiconductor manufacturer’s stock worth $288,000 after purchasing an additional 300 shares during the period. Finally, Means Investment CO. Inc. grew its stake in shares of Advanced Micro Devices by 5.2% in the second quarter. Means Investment CO. Inc. now owns 4,037 shares of the semiconductor manufacturer’s stock worth $655,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

Advanced Micro Devices Stock Performance

Shares of NASDAQ:AMD traded down $3.69 during midday trading on Friday, reaching $126.91. The company had a trading volume of 67,544,738 shares, compared to its average volume of 53,878,945. Advanced Micro Devices has a 52-week low of $121.82 and a 52-week high of $227.30. The company’s 50 day moving average price is $146.72 and its 200 day moving average price is $152.02. 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 market cap of $205.95 billion, a P/E ratio of 114.33, a P/E/G ratio of 1.88 and a beta of 1.65.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.92. Advanced Micro Devices had a return on equity of 6.62% and a net margin of 7.52%. The firm had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same period in the previous year, the company posted $0.53 earnings per share. The business’s revenue was up 17.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Advanced Micro Devices will post 2.54 EPS for the current fiscal year.

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.