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

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) saw a significant growth in short interest in May. As of May 15th, there was short interest totalling 48,470,000 shares, a growth of 18.4% from the April 30th total of 40,940,000 shares. Approximately 3.0% of the shares of the stock are short sold. Based on an average trading volume of 40,980,000 shares, the short-interest ratio is presently 1.2 days.

Advanced Micro Devices Stock Performance

NASDAQ AMD traded up $0.50 during trading hours on Friday, hitting $116.19. The company's stock had a trading volume of 26,964,110 shares, compared to its average volume of 41,498,489. The company's 50 day simple moving average is $101.39 and its two-hundred day simple moving average is $111.95. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.62 and a quick ratio of 1.83. The company has a market cap of $188.39 billion, a P/E ratio of 117.36, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. Advanced Micro Devices has a 12 month low of $76.48 and a 12 month high of $187.28.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a net margin of 6.36% and a return on equity of 7.42%. The firm had revenue of $7.44 billion during the quarter, compared to analysts' expectations of $7.10 billion. During the same period in the previous year, the company earned $0.62 earnings per share. The firm's quarterly revenue was up 35.9% on a year-over-year basis. As a group, sell-side analysts expect that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

Advanced Micro Devices declared that its board has initiated a share buyback program on Wednesday, May 14th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

AMD has been the topic of several recent analyst reports. Sanford C. Bernstein cut their target price on shares of Advanced Micro Devices from $125.00 to $95.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Dbs Bank downgraded shares of Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 8th. Jefferies Financial Group cut Advanced Micro Devices from a "buy" rating to a "hold" rating and cut their target price for the stock from $135.00 to $120.00 in a research note on Thursday, March 27th. Wall Street Zen upgraded Advanced Micro Devices from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $120.00 price target on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Fifteen equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $132.58.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

Institutional Trading of Advanced Micro Devices

Large investors have recently modified their holdings of the company. Bear Mountain Capital Inc. bought a new stake in shares of Advanced Micro Devices during the 4th quarter valued at about $25,000. Greenline Partners LLC purchased a new position in shares of Advanced Micro Devices in the fourth quarter worth approximately $28,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in Advanced Micro Devices by 277.8% during the first quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 272 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 200 shares during the period. American Capital Advisory LLC increased its holdings in Advanced Micro Devices by 90.3% during the first quarter. American Capital Advisory LLC now owns 274 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 130 shares during the last quarter. Finally, Halbert Hargrove Global Advisors LLC bought a new position in Advanced Micro Devices in the fourth quarter worth approximately $29,000. Institutional investors own 71.34% of the company's stock.

About Advanced Micro Devices

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.