Traders Buy Large Volume of Call Options on Advanced Micro Devices (AMD)
Shares of Advanced Micro Devices (NYSE:AMD) was the target of unusually large options trading activity on Wednesday. Stock investors bought 29,187 call options on the company, Stock Ratings News reports. This is an increase of approximately 130% compared to the typical daily volume of 12,717 call options.
AMD has been the subject of a number of recent research reports. Analysts at Wedbush upgraded shares of Advanced Micro Devices from a “neutral” rating to an “outperform” rating in a research note to investors on Monday. They now have a $5.00 price target on the stock, up previously from $4.50. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Advanced Micro Devices in a research note to investors on Monday, October 7th. They now have a $6.00 price target on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Advanced Micro Devices from $5.50 to $6.00 in a research note to investors on Monday, October 7th. They now have an “outperform” rating on the stock. Seven investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the stock. Advanced Micro Devices has an average rating of “Hold” and an average price target of $4.36.
Shares of Advanced Micro Devices (NYSE:AMD) traded up 1.74% on Wednesday, hitting $4.09. The stock had a trading volume of 33,995,312 shares. Advanced Micro Devices has a 52-week low of $1.81 and a 52-week high of $4.65. The stock’s 50-day moving average is $3.7 and its 200-day moving average is $3.65. The company’s market cap is $2.945 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 in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. On average, analysts predict that Advanced Micro Devices will post $-0.14 earnings per share 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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