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

Advanced Micro Devices, Inc. (NASDAQ:AMD) saw a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 47,800,000 shares, a drop of 18.9% from the January 15th total of 58,910,000 shares. Based on an average daily volume of 38,320,000 shares, the days-to-cover ratio is presently 1.2 days.

Advanced Micro Devices Stock Performance

Shares of AMD stock opened at $113.10 on Monday. The company has a market capitalization of $183.28 billion, a price-to-earnings ratio of 114.24, a PEG ratio of 1.04 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.62. Advanced Micro Devices has a 52 week low of $106.50 and a 52 week high of $227.30. The company has a 50-day simple moving average of $120.43 and a 200 day simple moving average of $138.75.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, February 4th. The semiconductor manufacturer reported $1.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.07. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. On average, sell-side analysts predict that Advanced Micro Devices will post 4.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on AMD. Piper Sandler lowered their target price on shares of Advanced Micro Devices from $180.00 to $140.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 5th. The Goldman Sachs Group cut shares of Advanced Micro Devices from a “buy” rating to a “neutral” rating and lowered their target price for the company from $175.00 to $129.00 in a research note on Friday, January 10th. Stifel Nicolaus lowered their target price on shares of Advanced Micro Devices from $200.00 to $162.00 and set a “buy” rating on the stock in a research note on Wednesday, February 5th. Melius Research reaffirmed a “hold” rating and set a $129.00 price objective (down from $160.00) on shares of Advanced Micro Devices in a research note on Tuesday, January 28th. Finally, DZ Bank cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Friday, February 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Insider Activity

In related news, EVP Philip Guido acquired 4,645 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was acquired at an average price of $107.56 per share, with a total value of $499,616.20. Following the completion of the transaction, the executive vice president now owns 33,522 shares of the company’s stock, valued at approximately $3,605,626.32. This represents a 16.09 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lisa T. Su sold 76,496 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $142.66, for a total transaction of $10,912,919.36. Following the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $508,834,266.92. This represents a 2.10 % 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 Investors Weigh In On Advanced Micro Devices

Institutional investors have recently made changes to their positions in the company. Creative Capital Management Investments LLC raised its position in shares of Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 86 shares in the last quarter. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $25,000. Global Wealth Strategies & Associates acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $26,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $29,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Advanced Micro Devices in the fourth quarter valued at approximately $31,000. Institutional investors own 71.34% of the company’s stock.

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.