Equities research analysts forecast that Advanced Micro Devices, Inc. (NASDAQ:AMD) will announce sales of $1.52 billion for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Advanced Micro Devices’ earnings. Advanced Micro Devices posted sales of $1.76 billion in the same quarter last year, which would suggest a negative year over year growth rate of 13.6%. The company is expected to announce its next earnings report on Wednesday, July 24th.
On average, analysts expect that Advanced Micro Devices will report full-year sales of $6.89 billion for the current fiscal year, with estimates ranging from $6.67 billion to $7.02 billion. For the next year, analysts expect that the business will report sales of $8.32 billion, with estimates ranging from $7.83 billion to $9.18 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Advanced Micro Devices.
Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Advanced Micro Devices had a return on equity of 25.23% and a net margin of 4.46%. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same period in the prior year, the business earned $0.11 EPS. The firm’s revenue for the quarter was down 22.8% on a year-over-year basis.
A number of research firms recently weighed in on AMD. Zacks Investment Research downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research note on Wednesday, April 10th. Barclays upped their price target on Advanced Micro Devices from $21.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, April 22nd. BidaskClub downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. upped their price target on Advanced Micro Devices from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Credit Suisse Group boosted their price objective on Advanced Micro Devices from $13.50 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $29.13.
In other news, SVP Paul Darren Grasby sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $27.54, for a total value of $165,240.00. Following the completion of the transaction, the senior vice president now directly owns 28,979 shares of the company’s stock, valued at $798,081.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 164,000 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $33.66, for a total value of $5,520,240.00. Following the completion of the transaction, the chief executive officer now directly owns 2,375,264 shares of the company’s stock, valued at $79,951,386.24. The disclosure for this sale can be found here. Insiders have sold a total of 1,009,066 shares of company stock valued at $29,689,636 over the last three months. Corporate insiders own 1.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in AMD. Norges Bank bought a new position in shares of Advanced Micro Devices in the fourth quarter valued at approximately $252,424,000. Artisan Partners Limited Partnership grew its holdings in Advanced Micro Devices by 66.9% during the first quarter. Artisan Partners Limited Partnership now owns 14,941,422 shares of the semiconductor manufacturer’s stock valued at $381,305,000 after purchasing an additional 5,991,132 shares during the period. Oregon Public Employees Retirement Fund grew its holdings in Advanced Micro Devices by 4,261.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,893,657 shares of the semiconductor manufacturer’s stock valued at $211,000 after purchasing an additional 3,804,384 shares during the period. Amundi Pioneer Asset Management Inc. grew its holdings in Advanced Micro Devices by 131.1% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 5,837,267 shares of the semiconductor manufacturer’s stock valued at $107,757,000 after purchasing an additional 3,311,157 shares during the period. Finally, Jericho Capital Asset Management L.P. bought a new position in Advanced Micro Devices during the first quarter valued at $59,283,000. 60.85% of the stock is owned by institutional investors.
AMD stock traded down $1.03 during trading on Monday, reaching $30.36. 70,172,451 shares of the stock were exchanged, compared to its average volume of 78,138,552. Advanced Micro Devices has a twelve month low of $14.54 and a twelve month high of $34.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.54 and a current ratio of 2.08. The company has a market cap of $33.95 billion, a P/E ratio of 86.74, a price-to-earnings-growth ratio of 1.92 and a beta of 3.19.
Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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