Advanced Micro Devices, Inc. (NASDAQ:AMD) Sees Large Decline in Short Interest

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

Wall Street Analyst Weigh In

AMD has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Tuesday, January 30th. Cantor Fitzgerald reissued an “overweight” rating and issued a $190.00 price target on shares of Advanced Micro Devices in a research report on Monday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Advanced Micro Devices from $115.00 to $180.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Finally, DZ Bank reissued a “hold” rating and issued a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.15.

Advanced Micro Devices Price Performance

NASDAQ:AMD traded up $2.93 during trading hours on Tuesday, reaching $163.25. The stock had a trading volume of 31,461,905 shares, compared to its average volume of 74,603,984. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51. Advanced Micro Devices has a 52 week low of $81.02 and a 52 week high of $227.30. The company has a 50 day moving average price of $180.87 and a two-hundred day moving average price of $147.77. The stock has a market capitalization of $263.83 billion, a PE ratio of 314.03, a PEG ratio of 2.49 and a beta of 1.64.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share for the quarter, meeting the consensus estimate of $0.77. The firm had revenue of $6.17 billion for 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%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. As a group, sell-side analysts anticipate that Advanced Micro Devices will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $186.73, for a total value of $3,025,026.00. Following the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $290,290,831.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Forrest Eugene Norrod sold 59,293 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $175.94, for a total value of $10,432,010.42. Following the completion of the transaction, the executive vice president now owns 258,690 shares in the company, valued at approximately $45,513,918.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $186.73, for a total transaction of $3,025,026.00. Following the completion of the transaction, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at approximately $290,290,831.46. The disclosure for this sale can be found here. Over the last three months, insiders have sold 324,943 shares of company stock worth $59,919,994. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

A number of hedge funds have recently made changes to their positions in AMD. O Dell Group LLC acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at about $27,000. Northwest Bank & Trust Co acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at about $28,000. Gables Capital Management Inc. acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at about $29,000. Bare Financial Services Inc acquired a new position in shares of Advanced Micro Devices in the fourth quarter valued at about $29,000. Finally, MeadowBrook Investment Advisors LLC purchased a new stake in shares of Advanced Micro Devices in the fourth quarter worth about $29,000. 71.34% of the stock is currently owned by hedge funds and other 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.