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

Advanced Micro Devices, Inc. (NASDAQ:AMD - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock investors bought 705,155 call options on the stock. This is an increase of 25% compared to the typical volume of 563,773 call options.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Bank of America increased their target price on shares of Advanced Micro Devices from $120.00 to $130.00 and gave the stock a "buy" rating in a report on Wednesday. Dbs Bank cut Advanced Micro Devices from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $120.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, May 7th. Mizuho decreased their price target on Advanced Micro Devices from $140.00 to $120.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Finally, Argus set a $160.00 target price on shares of Advanced Micro Devices in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Advanced Micro Devices currently has a consensus rating of "Moderate Buy" and an average price target of $132.10.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded up $1.66 during mid-day trading on Friday, reaching $116.65. The company had a trading volume of 15,531,400 shares, compared to its average volume of 42,814,787. Advanced Micro Devices has a 52 week low of $76.48 and a 52 week 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. The company has a 50 day moving average of $98.53 and a 200-day moving average of $115.48. The firm has a market cap of $189.13 billion, a price-to-earnings ratio of 117.86, a PEG ratio of 1.11 and a beta of 1.97.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its 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 quarter in the prior year, the firm posted $0.62 earnings per share. The company's quarterly revenue was up 35.9% on a year-over-year basis. On average, sell-side analysts expect that Advanced Micro Devices will post 3.87 EPS for the current fiscal year.

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

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 17,500 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $95.47, for a total transaction of $1,670,725.00. Following the completion of the sale, the executive vice president now directly owns 1,713,710 shares in the company, valued at $163,607,893.70. This represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Segment Wealth Management LLC increased its position in shares of Advanced Micro Devices by 0.5% in the fourth quarter. Segment Wealth Management LLC now owns 16,038 shares of the semiconductor manufacturer's stock worth $1,937,000 after purchasing an additional 87 shares during the last quarter. Breakwater Capital Group boosted its stake in Advanced Micro Devices by 5.2% during the fourth quarter. Breakwater Capital Group now owns 1,767 shares of the semiconductor manufacturer's stock worth $213,000 after acquiring an additional 88 shares in the last quarter. Koshinski Asset Management Inc. increased its stake in Advanced Micro Devices by 1.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 4,762 shares of the semiconductor manufacturer's stock valued at $575,000 after purchasing an additional 91 shares in the last quarter. TFG Advisers LLC boosted its position in shares of Advanced Micro Devices by 2.0% during the fourth quarter. TFG Advisers LLC now owns 4,741 shares of the semiconductor manufacturer's stock valued at $573,000 after buying an additional 92 shares during the last quarter. Finally, Seaview Investment Managers LLC boosted its stake in shares of Advanced Micro Devices by 4.3% in the 1st quarter. Seaview Investment Managers LLC now owns 2,256 shares of the semiconductor manufacturer's stock worth $232,000 after buying an additional 93 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

About Advanced Micro Devices

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.