Advanced Micro Devices Inc. (AMD) Short Interest Up 15.8% in September
Advanced Micro Devices Inc. (NASDAQ:AMD) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 93,371,499 shares, a growth of 15.8% from the September 15th total of 80,598,004 shares. Based on an average daily volume of 37,363,799 shares, the days-to-cover ratio is currently 2.5 days. Approximately 12.6% of the company’s stock are short sold.
Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its position in shares of Advanced Micro Devices by 524.7% in the second quarter. FMR LLC now owns 10,765,800 shares of the semiconductor manufacturer’s stock worth $55,336,000 after buying an additional 9,042,500 shares during the last quarter. Teachers Advisors Inc. raised its position in shares of Advanced Micro Devices by 752.7% in the second quarter. Teachers Advisors Inc. now owns 8,332,968 shares of the semiconductor manufacturer’s stock worth $42,831,000 after buying an additional 7,355,716 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Advanced Micro Devices during the first quarter worth $15,658,000. TIAA CREF Investment Management LLC raised its position in shares of Advanced Micro Devices by 183.6% in the second quarter. TIAA CREF Investment Management LLC now owns 5,693,260 shares of the semiconductor manufacturer’s stock worth $29,263,000 after buying an additional 3,686,043 shares during the last quarter. Finally, Myriad Asset Management Ltd. purchased a new position in shares of Advanced Micro Devices during the second quarter worth $15,093,000. Hedge funds and other institutional investors own 41.45% of the company’s stock.
Shares of Advanced Micro Devices (NASDAQ:AMD) opened at 6.62 on Thursday. Advanced Micro Devices has a 1-year low of $1.75 and a 1-year high of $8.00. The stock has a 50 day moving average price of $6.71 and a 200-day moving average price of $5.16. The company’s market cap is $5.27 billion.
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Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.03. The business earned $1.03 billion during the quarter, compared to analysts’ expectations of $951.89 million. Equities research analysts forecast that Advanced Micro Devices will post ($0.19) earnings per share for the current year.
A number of research analysts have recently weighed in on the company. Vetr lowered Advanced Micro Devices from a “sell” rating to a “strong sell” rating and set a $6.54 target price on the stock. in a report on Monday, August 22nd. Canaccord Genuity restated a “buy” rating on shares of Advanced Micro Devices in a report on Tuesday, August 23rd. Zacks Investment Research upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Monday, September 5th. Mizuho restated a “neutral” rating and issued a $7.00 target price (up previously from $5.50) on shares of Advanced Micro Devices in a report on Thursday, September 1st. Finally, Wells Fargo & Co. restated an “outperform” rating on shares of Advanced Micro Devices in a report on Wednesday, September 7th. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.65.
About Advanced Micro Devices
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as a standalone central processing unit (CPU) or as incorporated into an accelerated processing unit (APU), chipsets, and discrete graphics processing units (GPUs) for the consumer, commercial and professional graphics markets, and server and embedded CPUs, GPUs and APUs, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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