Advanced Micro Devices, Inc. (NASDAQ:AMD) Short Interest Down 7.6% in September

Advanced Micro Devices, Inc. (NASDAQ:AMD) was the recipient of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 46,400,000 shares, a decline of 7.6% from the August 31st total of 50,210,000 shares. Based on an average daily volume of 47,620,000 shares, the days-to-cover ratio is currently 1.0 days.

Analyst Ratings Changes

Several research analysts recently commented on the stock. BNP Paribas upgraded shares of Advanced Micro Devices to a “strong-buy” rating in a report on Wednesday, July 31st. Barclays dropped their price objective on shares of Advanced Micro Devices from $235.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Wedbush reissued an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Robert W. Baird lowered their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, Susquehanna reaffirmed a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $164.08 on Tuesday. The company has a quick ratio of 2.01, a current ratio of 2.82 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a twelve month low of $93.11 and a twelve month high of $227.30. The stock has a market cap of $265.20 billion, a price-to-earnings ratio of 241.29, a P/E/G ratio of 2.14 and a beta of 1.69. The company’s fifty day moving average is $146.63 and its 200 day moving average is $158.39.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.72 billion. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. Advanced Micro Devices’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. Sell-side analysts forecast that Advanced Micro Devices will post 2.56 EPS for the current year.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the transaction, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.73% of the company’s stock.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently made changes to their positions in AMD. Precision Wealth Strategies LLC increased its position in shares of Advanced Micro Devices by 4.0% during the fourth quarter. Precision Wealth Strategies LLC now owns 4,060 shares of the semiconductor manufacturer’s stock worth $598,000 after acquiring an additional 155 shares in the last quarter. Concentrum Wealth Management grew its position in Advanced Micro Devices by 6.6% in the 4th quarter. Concentrum Wealth Management now owns 38,157 shares of the semiconductor manufacturer’s stock worth $5,625,000 after purchasing an additional 2,354 shares in the last quarter. 9258 Wealth Management LLC grew its position in Advanced Micro Devices by 70.4% in the 4th quarter. 9258 Wealth Management LLC now owns 12,122 shares of the semiconductor manufacturer’s stock worth $1,787,000 after purchasing an additional 5,009 shares in the last quarter. Evoke Wealth LLC grew its position in Advanced Micro Devices by 17.5% in the 4th quarter. Evoke Wealth LLC now owns 3,438 shares of the semiconductor manufacturer’s stock worth $507,000 after purchasing an additional 513 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its position in Advanced Micro Devices by 28.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 11,563 shares of the semiconductor manufacturer’s stock worth $1,705,000 after purchasing an additional 2,583 shares in the last quarter. Institutional investors and hedge funds 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.