Advanced Micro Devices, Inc. (AMD) Expected to Post Earnings of -$0.03 Per Share
Equities research analysts expect Advanced Micro Devices, Inc. (NASDAQ:AMD) to post earnings of ($0.03) per share for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Advanced Micro Devices’ earnings, with the lowest EPS estimate coming in at ($0.04) and the highest estimate coming in at ($0.02). Advanced Micro Devices posted earnings of ($0.07) per share in the same quarter last year, which would indicate a positive year over year growth rate of 57.1%. The business is expected to issue its next earnings results on Thursday, July 20th.
On average, analysts expect that Advanced Micro Devices will report full year earnings of ($0.04) per share for the current fiscal year, with EPS estimates ranging from ($0.09) to $0.05. For the next financial year, analysts forecast that the business will post earnings of $0.19 per share, with EPS estimates ranging from $0.05 to $0.32. Zacks’ EPS averages are an average based on a survey of research analysts that follow Advanced Micro Devices.
Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Monday, May 1st. The semiconductor manufacturer reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). The firm had revenue of $984 million for the quarter, compared to the consensus estimate of $984.40 million. During the same period in the previous year, the business earned ($0.12) earnings per share. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis.
Several analysts recently commented on the stock. Morgan Stanley reissued an “equal weight” rating on shares of Advanced Micro Devices in a research report on Monday, May 15th. Vetr downgraded shares of Advanced Micro Devices from a “strong-buy” rating to a “buy” rating and set a $15.16 price objective on the stock. in a research report on Monday, February 6th. Goldman Sachs Group Inc started coverage on shares of Advanced Micro Devices in a research report on Thursday, April 6th. They set a “sell” rating and a $11.00 price objective on the stock. Sanford C. Bernstein restated a “sell” rating on shares of Advanced Micro Devices in a research note on Tuesday, April 25th. Finally, BMO Capital Markets restated an “outperform” rating and set a $15.00 target price on shares of Advanced Micro Devices in a research note on Thursday, February 2nd. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $12.51.
Advanced Micro Devices (NASDAQ:AMD) opened at 10.98 on Friday. The company’s 50 day moving average is $11.99 and its 200-day moving average is $11.64. The company’s market capitalization is $10.38 billion. Advanced Micro Devices has a 52-week low of $4.07 and a 52-week high of $15.55.
In related news, CFO Devinder Kumar sold 100,634 shares of Advanced Micro Devices stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $10.85, for a total value of $1,091,878.90. Following the completion of the sale, the chief financial officer now directly owns 704,311 shares in the company, valued at $7,641,774.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Darla M. Smith sold 9,620 shares of Advanced Micro Devices stock in a transaction dated Tuesday, May 23rd. The shares were sold at an average price of $10.98, for a total value of $105,627.60. Following the completion of the transaction, the insider now owns 19,808 shares in the company, valued at approximately $217,491.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 45,392,429 shares of company stock valued at $617,658,345. Corporate insiders own 1.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. bought a new position in Advanced Micro Devices during the first quarter valued at about $100,000. Intellectus Partners LLC bought a new position in Advanced Micro Devices during the first quarter valued at about $116,000. ING Groep NV bought a new position in Advanced Micro Devices during the first quarter valued at about $127,000. Coldstream Capital Management Inc. raised its position in Advanced Micro Devices by 2.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 12,100 shares of the semiconductor manufacturer’s stock valued at $137,000 after buying an additional 330 shares during the period. Finally, Riverhead Capital Management LLC bought a new position in Advanced Micro Devices during the third quarter valued at about $138,000. Institutional investors own 54.77% of the company’s stock.
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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.
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