Advanced Micro Devices Target of Unusually High Options Trading (AMD)
Advanced Micro Devices, Inc. (NASDAQ:AMD) was the recipient of some unusual options trading on Tuesday. Investors acquired 127,375 put options on the stock. This represents an increase of approximately 209% compared to the average daily volume of 41,215 put options.
Several research firms recently issued reports on AMD. Canaccord Genuity reiterated a “buy” rating and issued a $17.00 price objective on shares of Advanced Micro Devices in a report on Thursday, April 6th. Craig Hallum lifted their price objective on Advanced Micro Devices from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, June 22nd. Bank of America Corporation reiterated a “buy” rating on shares of Advanced Micro Devices in a report on Tuesday, May 9th. Wells Fargo & Company reiterated an “outperform” rating and issued a $15.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 30th. Finally, Vetr upgraded Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $15.99 price objective on the stock in a report on Monday, June 26th. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $14.10.
In related news, CFO Devinder Kumar sold 94,199 shares of Advanced Micro Devices stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $10.20, for a total value of $960,829.80. Following the completion of the transaction, the chief financial officer now owns 746,635 shares in the company, valued at approximately $7,615,677. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Darla M. Smith sold 9,620 shares of Advanced Micro Devices stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $10.98, for a total value of $105,627.60. Following the completion of the transaction, the insider now owns 19,808 shares of the company’s stock, valued at approximately $217,491.84. The disclosure for this sale can be found here. In the last 90 days, insiders sold 618,478 shares of company stock valued at $7,151,477. 1.60% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of AMD. Meeder Asset Management Inc. acquired a new position in shares of Advanced Micro Devices during the first quarter worth $100,000. Intellectus Partners LLC acquired a new position in shares of Advanced Micro Devices during the first quarter worth $116,000. ING Groep NV purchased a new stake in shares of Advanced Micro Devices during the first quarter worth about $127,000. Bluestein R H & Co. purchased a new stake in shares of Advanced Micro Devices during the first quarter worth about $146,000. Finally, Harbor Advisors LLC purchased a new stake in shares of Advanced Micro Devices during the first quarter worth about $146,000. 56.93% of the stock is owned by institutional investors and hedge funds.
Advanced Micro Devices (NASDAQ AMD) opened at 14.12 on Friday. The firm’s market capitalization is $13.34 billion. Advanced Micro Devices has a one year low of $5.45 and a one year high of $15.65. The stock’s 50 day moving average price is $13.25 and its 200 day moving average price is $12.65.
Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.04. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.55%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period last year, the company posted ($0.05) EPS. The company’s revenue was up 19.0% on a year-over-year basis. Analysts expect that Advanced Micro Devices will post $0.09 EPS for the current year.
Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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