Advanced Micro Devices Sees Unusually Large Options Volume (NASDAQ:AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD) was the recipient of some unusual options trading on Monday. Stock investors acquired 727,811 call options on the company. This represents an increase of approximately 36% compared to the average daily volume of 534,248 call options.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD opened at $126.39 on Tuesday. The company’s fifty day moving average is $105.48 and its two-hundred day moving average is $111.08. The company has a market cap of $204.93 billion, a P/E ratio of 127.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.99. Advanced Micro Devices has a 12-month low of $76.48 and a 12-month high of $187.28. The company has a quick ratio of 1.83, a current ratio of 2.62 and a debt-to-equity ratio of 0.03.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, May 6th. The semiconductor manufacturer reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.03. Advanced Micro Devices had a return on equity of 7.42% and a net margin of 6.36%. The firm had revenue of $7.44 billion for the quarter, compared to analyst estimates of $7.10 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. Advanced Micro Devices’s quarterly revenue was up 35.9% on a year-over-year basis. Equities analysts expect that Advanced Micro Devices will post 3.87 earnings per share for the current fiscal year.

Advanced Micro Devices declared that its board has approved a stock buyback program on Wednesday, May 14th that allows the company to buyback $6.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 3.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently issued reports on AMD. KeyCorp lowered Advanced Micro Devices from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, April 8th. Wedbush reiterated an “outperform” rating and set a $120.00 price objective (up previously from $115.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 7th. Robert W. Baird lowered their target price on Advanced Micro Devices from $175.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Morgan Stanley reduced their price objective on Advanced Micro Devices from $137.00 to $121.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Finally, Wells Fargo & Company lowered their price objective on Advanced Micro Devices from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.61.

Insider Buying and Selling at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of Advanced Micro Devices stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total value of $1,670,725.00. Following the completion of the transaction, the executive vice president now directly owns 1,713,710 shares in the company, valued at approximately $163,607,893.70. This trade represents a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.06% of the stock is owned by insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several institutional investors have recently bought and sold shares of AMD. Seaview Investment Managers LLC increased its stake in shares of Advanced Micro Devices by 4.3% during the first quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer’s stock worth $232,000 after acquiring an additional 93 shares during the period. L.M. Kohn & Company boosted its holdings in Advanced Micro Devices by 1.4% in the 4th quarter. L.M. Kohn & Company now owns 6,973 shares of the semiconductor manufacturer’s stock valued at $842,000 after purchasing an additional 97 shares in the last quarter. Main Street Financial Solutions LLC increased its position in Advanced Micro Devices by 3.9% during the 4th quarter. Main Street Financial Solutions LLC now owns 2,598 shares of the semiconductor manufacturer’s stock worth $314,000 after purchasing an additional 98 shares during the period. Activest Wealth Management raised its stake in shares of Advanced Micro Devices by 9.4% during the 1st quarter. Activest Wealth Management now owns 1,136 shares of the semiconductor manufacturer’s stock worth $117,000 after buying an additional 98 shares in the last quarter. Finally, BCM Advisors LLC lifted its holdings in shares of Advanced Micro Devices by 0.9% in the 4th quarter. BCM Advisors LLC now owns 12,197 shares of the semiconductor manufacturer’s stock valued at $1,366,000 after buying an additional 103 shares during the period. 71.34% of the stock is currently owned by institutional investors.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.