Equities research analysts expect Advanced Micro Devices, Inc. (NASDAQ:AMD) to report $1.40 billion in sales for the current quarter, Zacks reports. Ten analysts have provided estimates for Advanced Micro Devices’ earnings. The lowest sales estimate is $1.39 billion and the highest is $1.45 billion. Advanced Micro Devices posted sales of $1.11 billion during the same quarter last year, which suggests a positive year over year growth rate of 26.1%. The firm is expected to report its next earnings results after the market closes on Tuesday, January 30th.
On average, analysts expect that Advanced Micro Devices will report full-year sales of $1.40 billion for the current fiscal year, with estimates ranging from $5.24 billion to $5.30 billion. For the next fiscal year, analysts forecast that the company will report sales of $5.91 billion per share, with estimates ranging from $5.65 billion to $6.27 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Advanced Micro Devices.
AMD has been the subject of several analyst reports. Jefferies Group reissued a “buy” rating and issued a $19.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, October 25th. BNP Paribas raised shares of Advanced Micro Devices from a “neutral” rating to an “outperform” rating in a research note on Thursday, October 12th. Bank of America reissued a “buy” rating on shares of Advanced Micro Devices in a research note on Sunday, October 1st. TheStreet raised shares of Advanced Micro Devices from a “d” rating to a “c-” rating in a research note on Tuesday, October 24th. Finally, Mizuho reaffirmed a “buy” rating and set a $17.00 price target on shares of Advanced Micro Devices in a report on Tuesday, November 28th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.56.
In other news, CEO Lisa T. Su sold 300,000 shares of Advanced Micro Devices stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $12.04, for a total transaction of $3,612,000.00. Following the completion of the sale, the chief executive officer now owns 2,157,362 shares of the company’s stock, valued at $25,974,638.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Devinder Kumar sold 117,120 shares of Advanced Micro Devices stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $12.08, for a total value of $1,414,809.60. Following the sale, the chief financial officer now directly owns 698,313 shares of the company’s stock, valued at approximately $8,435,621.04. The disclosure for this sale can be found here. Insiders have sold 1,759,990 shares of company stock valued at $19,885,753 in the last three months. Insiders own 1.60% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. TB Alternative Assets Ltd. acquired a new stake in shares of Advanced Micro Devices during the third quarter worth $956,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Advanced Micro Devices by 8.9% during the third quarter. Schwab Charles Investment Management Inc. now owns 3,461,152 shares of the semiconductor manufacturer’s stock worth $44,130,000 after buying an additional 284,051 shares in the last quarter. Eagle Asset Management Inc. acquired a new position in Advanced Micro Devices in the third quarter valued at about $26,194,000. Bank Hapoalim BM acquired a new position in Advanced Micro Devices in the third quarter valued at about $651,000. Finally, Quantbot Technologies LP raised its stake in Advanced Micro Devices by 36.2% in the third quarter. Quantbot Technologies LP now owns 137,043 shares of the semiconductor manufacturer’s stock valued at $1,747,000 after purchasing an additional 36,408 shares in the last quarter. 60.09% of the stock is owned by institutional investors.
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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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