Advanced Micro Devices, Inc. (NASDAQ:AMD) saw a large growth in short interest in March. As of March 29th, there was short interest totalling 117,033,875 shares, a growth of 2.1% from the March 15th total of 114,672,426 shares. Approximately 11.7% of the company’s stock are short sold. Based on an average daily volume of 94,765,680 shares, the short-interest ratio is currently 1.2 days.
Several equities analysts recently commented on AMD shares. Zacks Investment Research upgraded Advanced Micro Devices from a “sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Mizuho raised their target price on Advanced Micro Devices from $28.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank raised their target price on Advanced Micro Devices from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Wednesday. Craig Hallum reiterated a “buy” rating and issued a $33.00 price objective (up previously from $27.00) on shares of Advanced Micro Devices in a research report on Wednesday. Finally, Cowen reiterated an “outperform” rating and issued a $36.00 price objective (up previously from $33.00) on shares of Advanced Micro Devices in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $28.31.
AMD traded down $0.07 on Friday, hitting $28.22. 55,426,338 shares of the company were exchanged, compared to its average volume of 55,805,880. Advanced Micro Devices has a 12 month low of $10.87 and a 12 month high of $34.14. The firm has a market capitalization of $30.52 billion, a PE ratio of 80.63, a PEG ratio of 1.74 and a beta of 3.37. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.36 and a current ratio of 2.08.
In other news, SVP Paul Darren Grasby sold 6,000 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $27.54, for a total transaction of $165,240.00. Following the transaction, the senior vice president now owns 28,979 shares of the company’s stock, valued at approximately $798,081.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mubadala Investment Co Pjsc sold 34,906,166 shares of the firm’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $23.43, for a total value of $817,851,469.38. The disclosure for this sale can be found here. Insiders have sold a total of 35,323,166 shares of company stock valued at $827,898,089 over the last ninety days. Company insiders own 1.50% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in AMD. Norges Bank bought a new stake in Advanced Micro Devices in the fourth quarter valued at approximately $252,424,000. Oregon Public Employees Retirement Fund raised its stake in Advanced Micro Devices by 4,261.5% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,893,657 shares of the semiconductor manufacturer’s stock valued at $211,000 after buying an additional 3,804,384 shares during the period. Amundi Pioneer Asset Management Inc. raised its stake in Advanced Micro Devices by 131.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,837,267 shares of the semiconductor manufacturer’s stock valued at $107,757,000 after buying an additional 3,311,157 shares during the period. Geode Capital Management LLC raised its stake in Advanced Micro Devices by 14.5% in the fourth quarter. Geode Capital Management LLC now owns 13,069,235 shares of the semiconductor manufacturer’s stock valued at $240,885,000 after buying an additional 1,651,507 shares during the period. Finally, First Trust Advisors LP raised its stake in Advanced Micro Devices by 27.0% in the fourth quarter. First Trust Advisors LP now owns 5,038,969 shares of the semiconductor manufacturer’s stock valued at $93,019,000 after buying an additional 1,071,738 shares during the period. Hedge funds and other institutional investors own 58.96% of the company’s stock.
About Advanced Micro Devices
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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