Analysts expect Advanced Micro Devices, Inc. (NASDAQ:AMD) to report $1.45 billion in sales for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Advanced Micro Devices’ earnings. The lowest sales estimate is $1.45 billion and the highest is $1.48 billion. Advanced Micro Devices posted sales of $1.48 billion during the same quarter last year, which would suggest a negative year over year growth rate of 2%. The business is expected to report its next earnings results on Tuesday, January 29th.
According to Zacks, analysts expect that Advanced Micro Devices will report full year sales of $6.54 billion for the current year, with estimates ranging from $6.51 billion to $6.77 billion. For the next financial year, analysts anticipate that the firm will report sales of $6.99 billion, with estimates ranging from $6.55 billion to $7.44 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Advanced Micro Devices.
Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Wednesday, October 24th. The semiconductor manufacturer reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. Advanced Micro Devices had a return on equity of 47.21% and a net margin of 5.51%. Advanced Micro Devices’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.10 earnings per share.
Several equities analysts have recently issued reports on AMD shares. Craig Hallum upped their target price on Advanced Micro Devices from $21.00 to $27.00 and gave the company a “buy” rating in a report on Wednesday, November 7th. Morgan Stanley reaffirmed an “underweight” rating and issued a $28.00 target price (up from $11.00) on shares of Advanced Micro Devices in a report on Wednesday, September 19th. Cowen reaffirmed an “outperform” rating and issued a $33.00 target price (up from $30.00) on shares of Advanced Micro Devices in a report on Thursday, October 18th. MKM Partners upped their target price on Advanced Micro Devices from $13.50 to $20.00 and gave the company a “buy” rating in a report on Wednesday, August 29th. Finally, BMO Capital Markets reduced their target price on Advanced Micro Devices from $20.00 to $18.00 and set a “market perform” rating for the company in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $23.65.
AMD stock opened at $19.46 on Friday. The company has a market capitalization of $21.11 billion, a PE ratio of 243.25, a price-to-earnings-growth ratio of 4.34 and a beta of 3.68. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.76 and a quick ratio of 1.37. Advanced Micro Devices has a 12-month low of $9.04 and a 12-month high of $34.14.
In other Advanced Micro Devices news, CFO Devinder Kumar sold 75,000 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $17.56, for a total transaction of $1,317,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lisa T. Su sold 175,553 shares of the stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $21.73, for a total value of $3,814,766.69. Following the sale, the chief executive officer now owns 2,482,683 shares in the company, valued at approximately $53,948,701.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 579,890 shares of company stock valued at $13,918,336. 1.80% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of the business. Northern Trust Corp lifted its position in shares of Advanced Micro Devices by 0.3% during the second quarter. Northern Trust Corp now owns 9,048,989 shares of the semiconductor manufacturer’s stock worth $135,645,000 after acquiring an additional 27,328 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Advanced Micro Devices by 541.5% during the second quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock worth $111,336,000 after acquiring an additional 6,269,500 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Advanced Micro Devices by 84.8% during the second quarter. Eagle Asset Management Inc. now owns 6,769,440 shares of the semiconductor manufacturer’s stock worth $101,473,000 after acquiring an additional 3,105,441 shares in the last quarter. Carillon Tower Advisers Inc. lifted its position in shares of Advanced Micro Devices by 107.7% during the second quarter. Carillon Tower Advisers Inc. now owns 5,432,501 shares of the semiconductor manufacturer’s stock worth $81,432,000 after acquiring an additional 2,816,360 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Advanced Micro Devices by 132.4% during the third quarter. Alliancebernstein L.P. now owns 5,357,536 shares of the semiconductor manufacturer’s stock worth $165,494,000 after acquiring an additional 3,051,938 shares in the last quarter. Hedge funds and other institutional investors own 59.01% of the company’s stock.
Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's 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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