Advanced Micro Devices, Inc. (NASDAQ:AMD) Short Interest Up 3.5% in July

Advanced Micro Devices, Inc. (NASDAQ:AMD) saw a significant growth in short interest in July. As of July 14th, there was short interest totalling 150,134,324 shares, a growth of 3.5% from the June 30th total of 145,105,931 shares. Currently, 17.8% of the shares of the stock are sold short. Based on an average daily volume of 82,374,755 shares, the days-to-cover ratio is currently 1.8 days.

Several research analysts have recently commented on AMD shares. Craig Hallum boosted their target price on Advanced Micro Devices from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, June 22nd. Bank of America Corporation reissued a “buy” rating on shares of Advanced Micro Devices in a report on Tuesday, May 9th. Canaccord Genuity boosted their target price on Advanced Micro Devices from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Wednesday, June 21st. Wells Fargo & Company reissued an “outperform” rating and issued a $15.00 target price on shares of Advanced Micro Devices in a report on Friday, June 30th. Finally, Vetr raised Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $15.99 target price on the stock in a report on Monday, June 26th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Advanced Micro Devices has an average rating of “Hold” and an average price target of $14.18.

Shares of Advanced Micro Devices (NASDAQ:AMD) traded up 0.24% during trading on Friday, reaching $12.37. 37,521,694 shares of the company were exchanged. The firm’s market cap is $11.71 billion. Advanced Micro Devices has a 52-week low of $5.66 and a 52-week high of $15.65. The stock’s 50-day moving average is $13.35 and its 200-day moving average is $12.92.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.04. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted ($0.05) earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. Equities research analysts predict that Advanced Micro Devices will post $0.10 earnings per share for the current fiscal year.

In other Advanced Micro Devices news, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $525,600,000.00, for a total transaction of $21,024,000,000,000,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP James Robert Anderson sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $10.86, for a total value of $217,200.00. Following the completion of the transaction, the senior vice president now directly owns 300,334 shares in the company, valued at $3,261,627.24. The disclosure for this sale can be found here. Insiders have sold 41,798,513 shares of company stock worth $21,024,000,023,167,700 over the last ninety days. Company insiders own 1.60% of the company’s stock.

A number of large investors have recently bought and sold shares of AMD. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 21.9% in the first quarter. Vanguard Group Inc. now owns 87,294,800 shares of the semiconductor manufacturer’s stock valued at $1,270,140,000 after buying an additional 15,661,774 shares during the period. Baillie Gifford & Co. bought a new stake in Advanced Micro Devices during the second quarter valued at $184,767,000. Wellington Management Group LLP increased its stake in Advanced Micro Devices by 5,764.6% in the first quarter. Wellington Management Group LLP now owns 14,181,305 shares of the semiconductor manufacturer’s stock valued at $206,339,000 after buying an additional 13,939,494 shares during the period. Old Mutual Global Investors UK Ltd. bought a new stake in Advanced Micro Devices during the first quarter valued at $129,039,000. Finally, MARSHALL WACE ASIA Ltd bought a new stake in Advanced Micro Devices during the first quarter valued at $63,654,000. 56.37% of the stock is owned by hedge funds and other institutional investors.

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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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