Advanced Micro Devices, Inc. (AMD) Short Interest Up 6.1% in September
Advanced Micro Devices, Inc. (NASDAQ:AMD) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 158,109,563 shares, a growth of 6.1% from the August 31st total of 149,045,759 shares. Currently, 17.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 45,816,464 shares, the short-interest ratio is presently 3.5 days.
A number of equities analysts have weighed in on AMD shares. Northland Securities reissued a “buy” rating and set a $17.50 price objective on shares of Advanced Micro Devices in a research note on Friday, June 23rd. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of Advanced Micro Devices in a research note on Friday, June 23rd. BMO Capital Markets downgraded Advanced Micro Devices from an “outperform” rating to a “market perform” rating and set a $15.00 target price for the company. in a research note on Wednesday, July 26th. Wells Fargo & Company reiterated an “outperform” rating and set a $15.00 price target on shares of Advanced Micro Devices in a report on Friday, June 30th. Finally, Jefferies Group LLC set a $19.00 price target on Advanced Micro Devices and gave the stock a “buy” rating in a report on Wednesday, July 26th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Advanced Micro Devices currently has an average rating of “Hold” and an average target price of $13.89.
In other news, SVP Forrest Eugene Norrod sold 62,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $15.42, for a total value of $963,750.00. Following the completion of the sale, the senior vice president now directly owns 600,301 shares in the company, valued at $9,256,641.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James Robert Anderson sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $13.26, for a total value of $265,200.00. Following the completion of the sale, the senior vice president now owns 513,773 shares of the company’s stock, valued at $6,812,629.98. The disclosure for this sale can be found here. Insiders sold 42,074,793 shares of company stock valued at $21,024,000,026,636,200 over the last quarter. Company insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in shares of Advanced Micro Devices in the first quarter valued at $100,000. Bluestein R H & Co. acquired a new stake in Advanced Micro Devices during the 1st quarter valued at $146,000. Harbor Advisors LLC acquired a new stake in Advanced Micro Devices during the 1st quarter valued at $146,000. K.J. Harrison & Partners Inc acquired a new stake in Advanced Micro Devices during the 2nd quarter valued at $125,000. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in Advanced Micro Devices during the 1st quarter valued at $148,000. 59.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Advanced Micro Devices (NASDAQ:AMD) opened at 12.71 on Tuesday. The stock’s market capitalization is $12.03 billion. Advanced Micro Devices has a 12 month low of $6.22 and a 12 month high of $15.65. The firm has a 50 day moving average of $12.66 and a 200-day moving average of $12.74.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04. Advanced Micro Devices had a negative return on equity of 24.34% and a negative net margin of 11.82%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the prior year, the business earned ($0.05) EPS. Advanced Micro Devices’s quarterly revenue was up 19.0% compared to the same quarter last year. Analysts forecast that Advanced Micro Devices will post $0.10 earnings per share for the current year.
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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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