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

Advanced Micro Devices, Inc. (NASDAQ:AMD) was the target of a large decrease in short interest in November. As of November 30th, there was short interest totalling 45,030,000 shares, a decrease 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.

Advanced Micro Devices Trading Down 2.8 %

AMD traded down $3.69 on Friday, reaching $126.91. 67,544,738 shares of the company traded hands, compared to its average volume of 53,878,945. The company has a market cap of $205.95 billion, a P/E ratio of 114.33, a price-to-earnings-growth ratio of 1.88 and a beta of 1.65. The company has a quick ratio of 1.78, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a one year low of $121.82 and a one year high of $227.30. The firm has a fifty day simple moving average of $146.72 and a two-hundred day simple moving average of $152.02.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue was up 17.6% on a year-over-year basis. As a group, equities research analysts expect that Advanced Micro Devices will post 2.54 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMD shares. Mizuho lowered their price objective on Advanced Micro Devices from $185.00 to $180.00 and set an “outperform” rating for the company in a research note on Thursday, December 5th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $180.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Barclays cut their target price on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Roth Mkm reiterated a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research report on Friday, October 11th. Finally, Benchmark restated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $192.36.

Insiders Place Their Bets

In other news, 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 transaction of $5,743,301.80. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 80,000 shares of Advanced Micro Devices stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,036 shares of company stock worth $28,165,821. 0.73% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its position in Advanced Micro Devices by 2.3% during the 3rd quarter. State Street Corp now owns 70,170,271 shares of the semiconductor manufacturer’s stock valued at $11,513,538,000 after acquiring an additional 1,580,035 shares in the last quarter. Geode Capital Management LLC increased its stake 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 valued at $5,597,337,000 after purchasing an additional 441,924 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Advanced Micro Devices by 2.8% in the third quarter. Fisher Asset Management LLC now owns 23,795,236 shares of the semiconductor manufacturer’s stock worth $3,904,323,000 after buying an additional 644,039 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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 worth $3,195,000,000 after acquiring an additional 1,565,083 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Advanced Micro Devices by 1.4% in the second quarter. Legal & General Group Plc now owns 13,310,158 shares of the semiconductor manufacturer’s stock worth $2,159,039,000 after purchasing an additional 188,580 shares during the last quarter. Institutional investors own 71.34% of the company’s stock.

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.