Advanced Micro Devices, Inc. (AMD), the semiconductor manufacturer, experienced significant growth in short interest during the month of September 2023. According to data from September 15th, there was a total of 30,060,000 shares held in short positions. This indicates a 6.7% increase compared to the previous month’s total of 28,180,000 shares. The average daily trading volume for AMD is approximately 59,810,000 shares, resulting in a short-interest ratio of just 0.5 days.
Several brokerage firms have recently shared their views on AMD. Robert W. Baird raised their price target on the company’s shares from $100.00 to $170.00 in a research report issued on June 14th. Similarly, Benchmark increased their price target from $108.00 to $145.00 and gave AMD a “buy” rating in their report released on August 3rd. JPMorgan Chase & Co., on the other hand, raised its price target from $92.00 to $130.00 and assigned a “neutral” rating to AMD in their research report dated August 2nd.
Other brokerages such as Argus and HSBC also raised their price targets for AMD from $100.00 to $170.00 and $77.00 to $120 respectively earlier this year.
Analysts seem generally positive about Advanced Micro Devices with one analyst giving it a sell rating and seven analysts assigning a hold rating to the company’s stock. Twenty-two analysts have rated it as a buy while one has even issued a strong buy recommendation for AMD.
The consensus target price for Advanced Micro Devices is reported as $136.48 according to data obtained from Bloomberg.com.
NASDAQ-listed AMD opened at $103.27 per share on October 3rd.
The company’s financials show that it has a market cap of approximately $166.85 billion. AMD’s 50-day moving average price stands at $106.79, while the 200-day moving average price is $105.81.
In terms of liquidity, AMD has a quick ratio of 1.58 and a current ratio of 2.18, indicating that the company holds sufficient short-term assets to cover its current liabilities.
Regarding its capital structure, the company has a debt-to-equity ratio of just 0.03, suggesting it has a minimal level of debt relative to its equity.
AMD has experienced significant growth over the past year, with its share price reaching a 52-week high of $132.83 and a low of $54.57.
On August 1st, Advanced Micro Devices announced its quarterly earnings results for the period ending June 2023. The company reported earnings per share (EPS) of $0.58 for the quarter, beating analysts’ consensus estimate by $0.01. AMD achieved revenue of $5.36 billion during this period compared to an estimated revenue of $5.32 billion.
Analysts noted that although AMD’s net margin was negative at -0.11%, it still managed to generate a positive return on equity of 5.69%.
It is worth mentioning that AMD’s quarterly revenue decreased by 18.2% compared to the same quarter in the previous year when it posted EPS worth $0.91.
Based on analyst projections, Advanced Micro Devices is expected to achieve earnings per share (EPS) of approximately 2.01 for the current year.
In other news related to AMD, Executive Vice President Paul Darren Grasby sold a total of 14,942 shares in several transactions conducted on August 30th at an average price of $106.21 per share, resulting in a total value exceeding $1 million.
Another executive vice president at AMD named Mark D. Papermaster also sold his shares, a total of 31,701, on July 6th at an average price of $111.49 per share, generating a transaction value of approximately $3.5 million.
These transactions were disclosed in filings with the Securities & Exchange Commission (SEC) and can be accessed on the SEC website.
Overall, insiders at AMD have sold a total of 196,643 shares in the last 90 days, valued at approximately $21.4 million. Corporate insiders now hold 0.73% of the company’s stock.
In conclusion, Advanced Micro Devices has seen significant growth in short interest during September 2023. The company has received positive price target revisions from various brokerages over recent months and analysts generally view it favorably. Despite some insider selling, AMD continues to demonstrate solid financial performance and a strong market presence in the semiconductor industry.
Advanced Micro Devices (AMD) Reports Positive Earnings, Faces Revenue Decline and Significant Institutional Investments
In recent news, Advanced Micro Devices (NASDAQ:AMD) has released its latest stock report. The semiconductor manufacturer reported its quarterly earnings results on Tuesday, August 1st. Analysts anticipated $0.57 earnings per share (EPS), while Advanced Micro Devices exceeded expectations by reporting $0.58 EPS.
Despite the positive earnings, Advanced Micro Devices experienced a decline in revenue compared to the same quarter last year. The business’s quarterly revenue was down 18.2%, with a total of $5.36 billion for the quarter, slightly surpassing the consensus estimate of $5.32 billion.
Looking at profitability, Advanced Micro Devices had a negative net margin of 0.11% but managed to maintain a positive return on equity of 5.69%. These figures are subject to scrutiny and analysis as investors evaluate the company’s performance.
In terms of institutional investments, several notable changes have been observed in relation to Advanced Micro Devices stocks. Intrepid Capital Management Inc., for instance, recently purchased a new position worth approximately $130,000 in shares of Advanced Micro Devices during the second quarter.
Similarly, Prosperity Wealth Management Inc. and Prosperity Financial Group Inc. both acquired new stakes during the same period, with an estimated worth of around $202,000 and $282,000 respectively.
Jag Capital Management LLC increased its stake in Advanced Micro Devices by an impressive 147.5% during the second quarter. With an additional 90,892 shares valued at approximately $17,373,000, this move demonstrates faith in the semiconductor manufacturer’s potential growth.
Lastly, ST Germain D J Co. Inc., contributed to the growing investment trend by acquiring a new stake worth around $6,313,000 during the second quarter.
Together, these institutional investors and hedge funds now own approximately 68.43% of Advanced Micro Devices’ stock. This level of interest from major players further adds to the intrigue and uncertainty surrounding the company’s future.
In conclusion, Advanced Micro Devices has exhibited positive earnings results, surpassing analysts’ projections. Despite a decrease in revenue compared to the previous year, the semiconductor manufacturer still managed to maintain profitability.
Additionally, significant changes have been observed in terms of institutional investment, with various firms acquiring new stakes in Advanced Micro Devices during the second quarter. These investments demonstrate confidence in the company’s potential for growth in the coming years.
As investors and industry experts analyze these developments, it will be interesting to see how Advanced Micro Devices performs in the current year and what impact these institutional investments will have on its trajectory.