Advanced Micro Devices Sees Unusually High Options Volume (AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD) was the target of unusually large options trading activity on Tuesday. Stock investors purchased 68,965 call options on the company. This is an increase of 307% compared to the average daily volume of 16,952 call options.

Shares of Advanced Micro Devices (NASDAQ AMD) traded up 5.28% during midday trading on Tuesday, reaching $12.56. 63,157,104 shares of the company’s stock were exchanged. Advanced Micro Devices has a 12-month low of $4.65 and a 12-month high of $15.55. The stock’s market cap is $11.87 billion. The stock’s 50 day moving average is $11.33 and its 200-day moving average is $12.13.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Monday, May 1st. The semiconductor manufacturer reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $984 million for the quarter, compared to the consensus estimate of $984.40 million. Advanced Micro Devices had a negative net margin of 10.42% and a negative return on equity of 76.29%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.12) earnings per share. On average, equities analysts expect that Advanced Micro Devices will post $0.07 EPS for the current year.

In other news, SVP Forrest Eugene Norrod sold 62,500 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $13.21, for a total transaction of $825,625.00. Following the completion of the transaction, the senior vice president now directly owns 646,061 shares of the company’s stock, valued at approximately $8,534,465.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Darla M. Smith sold 9,620 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $10.98, for a total transaction of $105,627.60. Following the transaction, the insider now directly owns 19,808 shares of the company’s stock, valued at $217,491.84. The disclosure for this sale can be found here. Insiders sold a total of 478,356 shares of company stock valued at $5,416,955 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Advanced Micro Devices by 21.9% in the first quarter. Vanguard Group Inc. now owns 87,294,800 shares of the semiconductor manufacturer’s stock worth $1,270,140,000 after buying an additional 15,661,774 shares during the last quarter. Wellington Management Group LLP boosted its position in Advanced Micro Devices by 5,764.6% in the first quarter. Wellington Management Group LLP now owns 14,181,305 shares of the semiconductor manufacturer’s stock worth $206,339,000 after buying an additional 13,939,494 shares during the last quarter. Teachers Advisors LLC boosted its position in Advanced Micro Devices by 14.2% in the fourth quarter. Teachers Advisors LLC now owns 12,308,204 shares of the semiconductor manufacturer’s stock worth $139,575,000 after buying an additional 1,526,306 shares during the last quarter. Geode Capital Management LLC boosted its position in Advanced Micro Devices by 31.7% in the first quarter. Geode Capital Management LLC now owns 9,210,323 shares of the semiconductor manufacturer’s stock worth $133,854,000 after buying an additional 2,215,111 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. bought a new position in Advanced Micro Devices during the first quarter worth approximately $129,039,000. Hedge funds and other institutional investors own 57.43% of the company’s stock.

A number of research firms have recently weighed in on AMD. Morgan Stanley reissued an “equal weight” rating on shares of Advanced Micro Devices in a research report on Monday, May 15th. Goldman Sachs Group, Inc. (The) reissued a “sell” rating and set a $10.60 target price on shares of Advanced Micro Devices in a research report on Monday, June 12th. Sanford C. Bernstein reissued a “sell” rating on shares of Advanced Micro Devices in a research report on Tuesday, April 25th. BMO Capital Markets reissued an “outperform” rating and set a $15.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 17th. Finally, Mizuho reissued a “buy” rating and set a $14.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 17th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Advanced Micro Devices currently has an average rating of “Hold” and a consensus price target of $12.53.

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About Advanced Micro Devices

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AMD”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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