Advanced Micro Devices Inc. (NASDAQ:AMD) was the recipient of 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 trading volume of 37,363,799 shares, the short-interest ratio is currently 2.5 days. Approximately 12.6% of the company’s stock are short sold.
Shares of Advanced Micro Devices (NASDAQ:AMD) opened at 6.75 on Friday. The firm’s 50-day moving average is $6.67 and its 200-day moving average is $5.20. Advanced Micro Devices has a 1-year low of $1.75 and a 1-year high of $8.00. The stock’s market capitalization is $5.37 billion.
Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Thursday, July 21st. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.03. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $951.89 million. On average, analysts predict that Advanced Micro Devices will post ($0.19) earnings per share for the current fiscal year.
A number of analysts have weighed in on the stock. JPMorgan Chase & Co. reissued a “hold” rating and set a $6.00 target price on shares of Advanced Micro Devices in a report on Tuesday, July 26th. Vetr cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $5.33 target price on the stock. in a report on Wednesday, June 29th. Mizuho increased their target price on shares of Advanced Micro Devices from $4.50 to $5.50 and gave the stock a “neutral” rating in a report on Friday, July 22nd. Jefferies Group reissued a “buy” rating and set a $9.00 target price on shares of Advanced Micro Devices in a report on Monday, September 19th. Finally, Susquehanna assumed coverage on shares of Advanced Micro Devices in a report on Tuesday, September 20th. They set a “neutral” rating and a $6.50 target price on the stock. Five equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $5.65.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. ClariVest Asset Management LLC acquired a new position in Advanced Micro Devices during the second quarter worth about $2,853,000. Emerald Acquisition Ltd. acquired a new position in Advanced Micro Devices during the second quarter worth about $14,815,000. Jacobs Levy Equity Management Inc. acquired a new position in Advanced Micro Devices during the first quarter worth about $15,658,000. Societe Generale acquired a new position in Advanced Micro Devices during the second quarter worth about $937,000. Finally, BlackRock Group LTD boosted its position in Advanced Micro Devices by 24.2% in the first quarter. BlackRock Group LTD now owns 449,771 shares of the semiconductor manufacturer’s stock worth $1,282,000 after buying an additional 87,752 shares in the last quarter. 41.45% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Advanced Micro Devices Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices Inc. and related companies with MarketBeat.com's FREE daily email newsletter.