Investors Buy Large Volume of Put Options on Advanced Micro Devices (AMD)
Advanced Micro Devices (NYSE:AMD) saw some unusual options trading on Tuesday. Investors purchased 11,410 put options on the company, AnalystRatingsNetwork.com reports. This is an increase of 316% compared to the typical daily volume of 2,740 put options.
A number of analysts have recently weighed in on AMD shares. Analysts at Ned Davis Research downgraded shares of Advanced Micro Devices (NYSE:AMD) from a “neutral” rating to a “sell” rating in a research note to investors on Monday. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Advanced Micro Devices (NYSE:AMD) in a research note to investors on Wednesday, September 11th. They now have a $6.00 price target on the stock. Finally, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Advanced Micro Devices (NYSE:AMD) in a research note to investors on Monday, August 5th. Seven analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.32.
Shares of Advanced Micro Devices (NYSE:AMD) opened at 3.86 on Wednesday. Advanced Micro Devices has a 1-year low of $1.81 and a 1-year high of $4.65. The stock has a 50-day moving average of $3.68 and a 200-day moving average of $3.56. The company’s market cap is $2.779 billion.
Advanced Micro Devices (NYSE:AMD) last released its earnings data on Thursday, July 18th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the company posted $0.06 earnings per share. Advanced Micro Devices’s revenue was down 17.9% compared to the same quarter last year. Analysts expect that Advanced Micro Devices will post $-0.14 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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