Advanced Micro Devices, Inc. (NASDAQ:AMD) Sees Significant Decrease in Short Interest

Advanced Micro Devices, Inc. (NASDAQ:AMD) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 32,850,000 shares, a decline of 14.8% from the March 15th total of 38,540,000 shares. Based on an average daily trading volume, of 76,890,000 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley boosted their price objective on Advanced Micro Devices from $128.00 to $193.00 and gave the company an “overweight” rating in a research report on Monday, January 29th. TD Cowen boosted their price objective on Advanced Micro Devices from $130.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. JPMorgan Chase & Co. boosted their price objective on Advanced Micro Devices from $115.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Roth Mkm boosted their price objective on Advanced Micro Devices from $125.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Finally, UBS Group boosted their price target on Advanced Micro Devices from $135.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $181.52.

Advanced Micro Devices Trading Down 1.8 %

Shares of Advanced Micro Devices stock traded down $2.96 during trading hours on Monday, hitting $160.32. The company’s stock had a trading volume of 61,389,301 shares, compared to its average volume of 75,234,789. Advanced Micro Devices has a 12 month low of $81.02 and a 12 month high of $227.30. The stock has a 50 day moving average of $180.87 and a 200 day moving average of $147.77. The company has a market capitalization of $259.10 billion, a PE ratio of 308.31, a price-to-earnings-growth ratio of 2.49 and a beta of 1.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. The business had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. Advanced Micro Devices’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. Analysts predict that Advanced Micro Devices will post 2.63 earnings per share for the current year.

Insider Activity

In related news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at approximately $794,069.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 59,293 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.94, for a total value of $10,432,010.42. Following the transaction, the executive vice president now directly owns 258,690 shares of the company’s stock, valued at approximately $45,513,918.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the transaction, the chief accounting officer now directly owns 4,209 shares in the company, valued at $794,069.94. The disclosure for this sale can be found here. Insiders sold a total of 324,943 shares of company stock worth $59,919,994 in the last three months. 0.65% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AMD. Vanguard Group Inc. increased its position in Advanced Micro Devices by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock worth $20,997,873,000 after buying an additional 2,390,558 shares during the last quarter. State Street Corp grew its position in shares of Advanced Micro Devices by 1.7% in the first quarter. State Street Corp now owns 65,045,249 shares of the semiconductor manufacturer’s stock valued at $6,375,083,000 after purchasing an additional 1,112,077 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Advanced Micro Devices by 2.2% in the fourth quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock valued at $4,181,849,000 after purchasing an additional 600,638 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Advanced Micro Devices by 10.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after purchasing an additional 2,553,392 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Advanced Micro Devices by 5.9% in the fourth quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock valued at $3,963,307,000 after purchasing an additional 1,490,997 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Company Profile

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.