Advanced Micro Devices, Inc. (NASDAQ:AMD) was the recipient of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 114,918,514 shares, a decline of 5.5% from the October 15th total of 121,634,146 shares. Currently, 12.3% of the company’s shares are sold short. Based on an average daily volume of 112,995,778 shares, the days-to-cover ratio is currently 1.0 days.
A number of analysts recently weighed in on the stock. Stifel Nicolaus upped their price objective on shares of Advanced Micro Devices from $17.00 to $21.00 and gave the stock a “buy” rating in a research note on Monday, July 16th. Robert W. Baird lowered their price objective on shares of Advanced Micro Devices from $28.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, October 25th. BidaskClub raised shares of Advanced Micro Devices from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 15th. Royal Bank of Canada assumed coverage on shares of Advanced Micro Devices in a research note on Monday, September 24th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Advanced Micro Devices to $18.00 and gave the stock a “neutral” rating in a research note on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Advanced Micro Devices has an average rating of “Hold” and a consensus price target of $23.65.
AMD stock opened at $21.03 on Friday. The stock has a market cap of $20.67 billion, a price-to-earnings ratio of 262.88, a PEG ratio of 4.25 and a beta of 3.64. Advanced Micro Devices has a one year low of $9.04 and a one year high of $34.14. The company has a quick ratio of 1.37, a current ratio of 1.76 and a debt-to-equity ratio of 1.04.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Wednesday, October 24th. The semiconductor manufacturer reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. Advanced Micro Devices had a net margin of 5.51% and a return on equity of 47.21%. The company’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 earnings per share. Analysts predict that Advanced Micro Devices will post 0.35 earnings per share for the current year.
In related news, insider Mark D. Papermaster sold 311,962 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $19.59, for a total value of $6,111,335.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Harry A. Wolin sold 133,420 shares of the company’s stock in a transaction dated Wednesday, August 15th. The stock was sold at an average price of $19.51, for a total transaction of $2,603,024.20. Following the completion of the sale, the senior vice president now directly owns 1,455,655 shares of the company’s stock, valued at $28,399,829.05. The disclosure for this sale can be found here. Insiders have sold 2,569,209 shares of company stock valued at $56,688,849 over the last three months. Insiders own 1.80% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AMD. Renaissance Technologies LLC lifted its position in shares of Advanced Micro Devices by 541.5% during the second quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock valued at $111,336,000 after buying an additional 6,269,500 shares during the last quarter. Swedbank acquired a new position in shares of Advanced Micro Devices during the third quarter valued at about $152,865,000. First Trust Advisors LP increased its holdings in shares of Advanced Micro Devices by 1,047.7% during the third quarter. First Trust Advisors LP now owns 3,967,231 shares of the semiconductor manufacturer’s stock valued at $122,548,000 after acquiring an additional 3,621,560 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Advanced Micro Devices by 275.0% during the third quarter. American Century Companies Inc. now owns 4,256,231 shares of the semiconductor manufacturer’s stock valued at $131,475,000 after acquiring an additional 3,121,246 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Advanced Micro Devices by 84.8% during the second quarter. Eagle Asset Management Inc. now owns 6,769,440 shares of the semiconductor manufacturer’s stock valued at $101,473,000 after acquiring an additional 3,105,441 shares in the last quarter. 66.62% of the stock is owned by institutional investors and hedge funds.
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Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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