$1.51 Billion in Sales Expected for Advanced Micro Devices, Inc. (AMD) This Quarter
Wall Street brokerages forecast that Advanced Micro Devices, Inc. (NASDAQ:AMD) will post sales of $1.51 billion for the current quarter, Zacks reports. Ten analysts have provided estimates for Advanced Micro Devices’ earnings, with the lowest sales estimate coming in at $1.50 billion and the highest estimate coming in at $1.56 billion. Advanced Micro Devices reported sales of $1.31 billion during the same quarter last year, which indicates a positive year over year growth rate of 15.3%. The firm is scheduled to report its next 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 financial year, with estimates ranging from $4.90 billion to $5.28 billion. For the next financial year, analysts expect that the firm 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 analysts that that provide coverage for Advanced Micro Devices.
Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings data on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 EPS for the quarter, beating 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 business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business posted ($0.05) EPS. The business’s quarterly revenue was up 19.0% compared to the same quarter last year.
Several equities research analysts have recently weighed in on AMD shares. Loop Capital downgraded Advanced Micro Devices from a “buy” rating to a “hold” rating and decreased their price objective for the company from $11.90 to $11.00 in a report on Wednesday, May 17th. BMO Capital Markets reissued an “outperform” rating and issued a $15.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 17th. Mizuho reissued a “buy” rating and issued a $14.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, May 17th. Wells Fargo & Company reissued an “outperform” rating and issued a $15.00 price objective (up from $14.00) on shares of Advanced Micro Devices in a report on Wednesday, May 17th. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $10.00 price objective on shares of Advanced Micro Devices in a report on Friday, May 19th. Five equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $13.98.
Shares of Advanced Micro Devices (NASDAQ AMD) opened at 12.22 on Thursday. Advanced Micro Devices has a 52 week low of $5.75 and a 52 week high of $15.65. The firm’s 50-day moving average is $12.89 and its 200 day moving average is $12.84. The firm’s market capitalization is $11.57 billion.
In related news, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of Advanced Micro Devices stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $525,600,000.00, for a total transaction of $21,024,000,000,000,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James Robert Anderson sold 160,122 shares of Advanced Micro Devices stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $12.48, for a total value of $1,998,322.56. Following the sale, the senior vice president now owns 622,485 shares of the company’s stock, valued at approximately $7,768,612.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,909,915 shares of company stock valued at $21,024,000,024,603,700. Company insiders own 1.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of AMD. Vanguard Group Inc. increased its position in Advanced Micro Devices by 21.9% during the 1st quarter. Vanguard Group Inc. now owns 87,294,800 shares of the semiconductor manufacturer’s stock worth $1,270,140,000 after purchasing an additional 15,661,774 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Advanced Micro Devices during the 2nd quarter worth about $184,767,000. Wellington Management Group LLP increased its position in Advanced Micro Devices by 5,764.6% during the 1st quarter. Wellington Management Group LLP now owns 14,181,305 shares of the semiconductor manufacturer’s stock worth $206,339,000 after purchasing an additional 13,939,494 shares in the last quarter. MARSHALL WACE ASIA Ltd purchased a new stake in Advanced Micro Devices during the 1st quarter worth about $63,654,000. Finally, Marshall Wace North America L.P. purchased a new stake in Advanced Micro Devices during the 1st quarter worth about $63,654,000. Hedge funds and other institutional investors own 59.15% of the company’s stock.
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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