Short Interest in Advanced Micro Devices Rises By 5.0% (AMD)
Advanced Micro Devices (NYSE:AMD) was the target of a large increase in short interest in the month of June. As of June 13th, there was short interest totalling 108,959,521 shares, an increase of 5.0% from the May 30th total of 103,812,988 shares, Analyst Ratings Net reports. Based on an average daily volume of 15,816,995 shares, the days-to-cover ratio is currently 6.9 days. Currently, 17.7% of the shares of the stock are sold short.
Several analysts have recently commented on the stock. Analysts at Pacific Crest downgraded shares of Advanced Micro Devices from a “sector perform” rating to an “underperform” rating in a research note on Monday, June 23rd. Separately, analysts at Argus upgraded shares of Advanced Micro Devices to a “hold” rating in a research note on Monday, June 16th. Finally, analysts at Canaccord Genuity initiated coverage on shares of Advanced Micro Devices in a research note on Tuesday, June 10th. They set a “buy” rating and a $5.00 price target on the stock. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $4.78.
Shares of Advanced Micro Devices (NYSE:AMD) opened at 4.24 on Monday. Advanced Micro Devices has a one year low of $3.04 and a one year high of $4.65. The stock’s 50-day moving average is $4.12 and its 200-day moving average is $3.92. The company has a market cap of $3.231 billion and a P/E ratio of 90.42.
Advanced Micro Devices (NYSE:AMD) last announced its earnings results on Thursday, April 17th. The company reported $0.02 EPS for the quarter. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The company’s quarterly revenue was up 28.4% on a year-over-year basis. Analysts expect that Advanced Micro Devices will post $0.19 EPS for the current fiscal year.
Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.
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