Advanced Micro Devices, Inc. (NASDAQ:AMD) saw a significant growth in short interest in the month of November. As of November 30th, there was short interest totalling 177,020,428 shares, a growth of 2.3% from the November 15th total of 173,104,624 shares. Based on an average daily trading volume, of 40,493,644 shares, the days-to-cover ratio is presently 4.4 days. Currently, 19.6% of the shares of the stock are short sold.
In other news, CAO Darla M. Smith sold 18,001 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $11.37, for a total value of $204,671.37. Following the sale, the chief accounting officer now directly owns 19,078 shares in the company, valued at $216,916.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James Robert Anderson sold 75,000 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $10.06, for a total transaction of $754,500.00. Following the completion of the sale, the senior vice president now owns 398,773 shares in the company, valued at $4,011,656.38. The disclosure for this sale can be found here. Insiders have sold 962,283 shares of company stock worth $11,284,544 over the last 90 days. 1.60% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in AMD. Bronfman E.L. Rothschild L.P. grew its holdings in Advanced Micro Devices by 1,655.2% during the 3rd quarter. Bronfman E.L. Rothschild L.P. now owns 8,741 shares of the semiconductor manufacturer’s stock worth $111,000 after acquiring an additional 8,243 shares in the last quarter. First Personal Financial Services acquired a new position in Advanced Micro Devices during the 3rd quarter worth $127,000. 1492 Capital Management LLC acquired a new position in Advanced Micro Devices during the 3rd quarter worth $128,000. Cetera Investment Advisers acquired a new position in Advanced Micro Devices during the 3rd quarter worth $137,000. Finally, Stratos Wealth Partners LTD. acquired a new position in Advanced Micro Devices during the 3rd quarter worth $139,000. 60.13% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on AMD. Bank of America restated a “buy” rating and set a $18.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, August 16th. BidaskClub lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Tuesday, December 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $20.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, August 15th. Rosenblatt Securities reaffirmed a “buy” rating on shares of Advanced Micro Devices in a research note on Wednesday, August 23rd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating on shares of Advanced Micro Devices in a research note on Wednesday, August 23rd. Seven analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Advanced Micro Devices currently has an average rating of “Hold” and an average price target of $14.02.
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About Advanced Micro Devices
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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