Brokerages predict that Advanced Micro Devices, Inc. (NASDAQ:AMD) will report sales of $1.51 billion for the current quarter, Zacks reports. Ten analysts have made estimates for Advanced Micro Devices’ earnings. The highest sales estimate is $1.56 billion and the lowest is $1.50 billion. Advanced Micro Devices reported sales of $1.31 billion during the same quarter last year, which would suggest a positive year over year growth rate of 15.3%. The company is scheduled to announce its next earnings results after the market closes on Tuesday, October 24th.

On average, analysts expect that Advanced Micro Devices will report full-year sales of $1.51 billion for the current fiscal year, with estimates ranging from $4.90 billion to $5.28 billion. For the next financial year, analysts forecast that the firm will report sales of $5.68 billion per share, with estimates ranging from $5.30 billion to $6.14 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Advanced Micro Devices.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings results on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share 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 firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted ($0.05) earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year.

AMD has been the subject of several research reports. BNP Paribas upgraded shares of Advanced Micro Devices from a “neutral” rating to an “outperform” rating in a research note on Thursday, October 12th. Bank of America Corporation reiterated a “buy” rating on shares of Advanced Micro Devices in a research note on Sunday, October 1st. Wells Fargo & Company reiterated an “outperform” rating and issued a $15.00 price target on shares of Advanced Micro Devices in a research note on Friday, June 30th. Vetr upgraded shares of Advanced Micro Devices from a “buy” rating to a “strong-buy” rating and set a $15.99 price target for the company in a research note on Monday, June 26th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $6.00 price target on shares of Advanced Micro Devices in a research note on Thursday, August 31st. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.93.

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In other news, SVP Forrest Eugene Norrod sold 62,500 shares of Advanced Micro Devices stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $15.42, for a total transaction of $963,750.00. Following the sale, the senior vice president now owns 600,301 shares in the company, valued at $9,256,641.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Darla M. Smith sold 11,810 shares of Advanced Micro Devices stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $12.17, for a total transaction of $143,727.70. Following the sale, the chief accounting officer now owns 31,291 shares in the company, valued at approximately $380,811.47. The disclosure for this sale can be found here. Insiders have sold 42,157,502 shares of company stock worth $21,024,000,027,762,700 in the last ninety days. Insiders own 1.60% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Advanced Micro Devices by 6.6% during the second quarter. Vanguard Group Inc. now owns 93,092,619 shares of the semiconductor manufacturer’s stock valued at $1,161,796,000 after buying an additional 5,797,819 shares during the last quarter. Baillie Gifford & Co. bought a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $184,767,000. Legal & General Group Plc raised its position in shares of Advanced Micro Devices by 12.2% during the second quarter. Legal & General Group Plc now owns 3,927,691 shares of the semiconductor manufacturer’s stock valued at $49,018,000 after buying an additional 428,379 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Advanced Micro Devices by 3,815.8% during the second quarter. Janus Henderson Group PLC now owns 3,833,805 shares of the semiconductor manufacturer’s stock valued at $47,845,000 after buying an additional 3,735,900 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Advanced Micro Devices by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,675,249 shares of the semiconductor manufacturer’s stock valued at $53,472,000 after buying an additional 269,478 shares during the last quarter. Hedge funds and other institutional investors own 59.11% of the company’s stock.

Advanced Micro Devices (NASDAQ:AMD) traded down 1.00% during midday trading on Friday, reaching $13.81. 33,045,877 shares of the company’s stock traded hands. The company’s 50-day moving average price is $13.18 and its 200-day moving average price is $12.74. Advanced Micro Devices has a 52-week low of $6.22 and a 52-week high of $15.65. The stock’s market cap is $13.08 billion.

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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