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

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

Advanced Micro Devices Price Performance

NASDAQ AMD traded down $2.89 on Thursday, hitting $115.69. 34,020,989 shares of the company's stock were exchanged, compared to its average volume of 41,592,088. The stock has a 50-day moving average of $100.86 and a 200-day moving average of $112.45. The company has a current ratio of 2.62, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week high of $187.28. The stock has a market cap of $187.58 billion, a price-to-earnings ratio of 116.86, a P/E/G ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. 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 prior year, the company earned $0.62 earnings per share. The company's quarterly revenue was up 35.9% on a year-over-year basis. Analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current year.

Advanced Micro Devices announced that its board has authorized a stock repurchase program on Wednesday, May 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms recently issued reports on AMD. Hsbc Global Res upgraded Advanced Micro Devices from a "moderate sell" rating to a "hold" rating in a report on Tuesday, May 27th. Mizuho upped their target price on Advanced Micro Devices from $117.00 to $135.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Finally, TD Cowen upped their price objective on Advanced Micro Devices from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Fifteen investment 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's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $132.58.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 17,500 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now directly owns 1,713,710 shares of the company's stock, valued at approximately $163,607,893.70. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.06% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Bear Mountain Capital Inc. acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $25,000. Greenline Partners LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $28,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $29,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $30,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Advanced Micro Devices during the 4th quarter valued at $31,000. 71.34% of the stock is currently owned by institutional investors.

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.