Advanced Micro Devices, Inc. (NASDAQ:AMD) Expected to Post Quarterly Sales of $1.51 Billion
Equities analysts expect Advanced Micro Devices, Inc. (NASDAQ:AMD) to post $1.51 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Advanced Micro Devices’ earnings, with the highest sales estimate coming in at $1.56 billion and the lowest estimate coming in at $1.50 billion. Advanced Micro Devices posted sales of $1.31 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 15.3%. The business is expected to report its next quarterly earnings results on Thursday, October 19th.
According to Zacks, analysts expect that Advanced Micro Devices will report full-year sales of $1.51 billion for the current year, with estimates ranging from $4.90 billion to $5.28 billion. For the next fiscal year, analysts forecast that the company will report sales of $5.68 billion per share, with estimates ranging from $5.30 billion to $6.14 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Advanced Micro Devices.
Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.04. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the company earned ($0.05) EPS. Advanced Micro Devices’s revenue was up 19.0% on a year-over-year basis.
A number of brokerages recently issued reports on AMD. Morgan Stanley reiterated an “equal weight” rating on shares of Advanced Micro Devices in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $10.60 price objective on shares of Advanced Micro Devices in a report on Monday, June 12th. Sanford C. Bernstein reiterated a “sell” rating on shares of Advanced Micro Devices in a report on Tuesday, April 25th. Wells Fargo & Company reiterated an “outperform” rating and issued a $15.00 price objective on shares of Advanced Micro Devices in a report on Friday, June 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $15.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 17th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Advanced Micro Devices currently has an average rating of “Hold” and a consensus price target of $14.18.
In other Advanced Micro Devices news, SVP James Robert Anderson sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $10.86, for a total transaction of $217,200.00. Following the transaction, the senior vice president now directly owns 300,334 shares in the company, valued at approximately $3,261,627.24. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $525,600,000.00, for a total value of $21,024,000,000,000,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 41,360,216 shares of company stock valued at $21,024,000,017,670,000. 1.60% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Hartford Investment Management Co. boosted its position in shares of Advanced Micro Devices by 2.3% in the second quarter. Hartford Investment Management Co. now owns 179,781 shares of the semiconductor manufacturer’s stock valued at $2,244,000 after buying an additional 4,036 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Advanced Micro Devices by 39.5% in the first quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the semiconductor manufacturer’s stock valued at $164,000 after buying an additional 3,200 shares during the period. DnB Asset Management AS bought a new position in shares of Advanced Micro Devices during the first quarter valued at $1,111,000. Gateway Investment Advisers LLC boosted its position in shares of Advanced Micro Devices by 179.6% in the first quarter. Gateway Investment Advisers LLC now owns 506,158 shares of the semiconductor manufacturer’s stock valued at $7,365,000 after buying an additional 325,108 shares during the period. Finally, Telemus Capital LLC bought a new position in shares of Advanced Micro Devices during the first quarter valued at $291,000. Institutional investors and hedge funds own 57.34% of the company’s stock.
Shares of Advanced Micro Devices (AMD) opened at 13.43 on Tuesday. The firm’s market cap is $12.69 billion. Advanced Micro Devices has a 12 month low of $5.66 and a 12 month high of $15.65. The stock’s 50 day moving average is $13.36 and its 200 day moving average is $12.73.
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Advanced Micro Devices Company Profile
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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