Advanced Micro Devices, Inc. (AMD) Sees Significant Growth in Short Interest

Advanced Micro Devices, Inc. (NASDAQ:AMD) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 114,911,888 shares, a growth of 9.9% from the February 28th total of 104,607,270 shares. Based on an average daily volume of 81,617,588 shares, the days-to-cover ratio is currently 1.4 days. Currently, 13.9% of the company’s stock are sold short.

Shares of Advanced Micro Devices (NASDAQ:AMD) opened at 13.70 on Friday. Advanced Micro Devices has a 52-week low of $2.60 and a 52-week high of $15.55. The stock’s market cap is $12.89 billion. The company’s 50-day moving average price is $13.71 and its 200-day moving average price is $9.83.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, January 31st. The semiconductor manufacturer reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.07 billion. The firm’s revenue was up 15.4% compared to the same quarter last year. During the same period last year, the business posted ($0.10) EPS. On average, equities research analysts forecast that Advanced Micro Devices will post $0.08 earnings per share for the current fiscal year.

In related news, CEO Lisa T. Su sold 87,683 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $11.86, for a total transaction of $1,039,920.38. Following the sale, the chief executive officer now directly owns 2,228,267 shares in the company, valued at $26,427,246.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Harry A. Wolin sold 18,999 shares of Advanced Micro Devices stock in a transaction that occurred on Tuesday, December 27th. The shares were sold at an average price of $11.86, for a total value of $225,328.14. Following the sale, the senior vice president now owns 732,758 shares in the company, valued at $8,690,509.88. The disclosure for this sale can be found here. Insiders have sold 45,529,252 shares of company stock worth $619,713,416 over the last 90 days. 1.00% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of AMD. Trellus Management Company LLC acquired a new stake in Advanced Micro Devices during the third quarter worth $691,000. Quantbot Technologies LP acquired a new stake in Advanced Micro Devices during the third quarter worth $123,000. Texas Permanent School Fund boosted its stake in Advanced Micro Devices by 13.8% in the third quarter. Texas Permanent School Fund now owns 559,071 shares of the semiconductor manufacturer’s stock worth $3,863,000 after buying an additional 67,610 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Advanced Micro Devices by 11.3% in the third quarter. Louisiana State Employees Retirement System now owns 190,200 shares of the semiconductor manufacturer’s stock worth $1,314,000 after buying an additional 19,300 shares during the last quarter. Finally, Henderson Group PLC acquired a new stake in Advanced Micro Devices during the third quarter worth $2,303,000. 54.77% of the stock is owned by hedge funds and other institutional investors.

AMD has been the topic of several analyst reports. Zacks Investment Research raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a report on Thursday, December 1st. Bank of America Corp raised Advanced Micro Devices from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $5.00 to $12.00 in a report on Thursday, December 8th. Loop Capital initiated coverage on Advanced Micro Devices in a report on Monday, December 5th. They issued a “buy” rating and a $11.00 target price on the stock. Canaccord Genuity boosted their target price on Advanced Micro Devices from $8.75 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, December 14th. Finally, Vetr downgraded Advanced Micro Devices from a “strong-buy” rating to a “buy” rating and set a $12.71 target price on the stock. in a report on Tuesday, December 20th. Seventeen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Advanced Micro Devices presently has a consensus rating of “Hold” and an average target price of $10.55.

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Advanced Micro Devices Company Profile

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.

5 Day Chart for NASDAQ:AMD

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