Equities analysts expect Advanced Micro Devices, Inc. (NASDAQ:AMD) to announce sales of $1.45 billion for the current quarter, Zacks Investment Research reports. Nine analysts have provided estimates for Advanced Micro Devices’ earnings, with the lowest sales estimate coming in at $1.45 billion and the highest estimate coming in at $1.48 billion. Advanced Micro Devices reported sales of $1.48 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 2%. The business is expected to report its next earnings report on Tuesday, January 29th.
According to Zacks, analysts expect that Advanced Micro Devices will report full-year sales of $6.54 billion for the current fiscal year, with estimates ranging from $6.51 billion to $6.77 billion. For the next fiscal year, analysts expect that the company will post sales of $6.99 billion, with estimates ranging from $6.55 billion to $7.44 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Advanced Micro Devices.
Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Wednesday, October 24th. The semiconductor manufacturer reported $0.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.01. Advanced Micro Devices had a return on equity of 47.21% and a net margin of 5.51%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the business posted $0.10 earnings per share. The firm’s revenue was up 4.4% compared to the same quarter last year.
A number of equities research analysts recently issued reports on AMD shares. Craig Hallum increased their price objective on Advanced Micro Devices from $21.00 to $27.00 and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Morgan Stanley reiterated an “underweight” rating and issued a $28.00 price objective (up previously from $11.00) on shares of Advanced Micro Devices in a research report on Wednesday, September 19th. Cowen reiterated an “outperform” rating and issued a $33.00 price objective (up previously from $30.00) on shares of Advanced Micro Devices in a research report on Thursday, October 18th. MKM Partners increased their price objective on Advanced Micro Devices from $13.50 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 29th. Finally, BMO Capital Markets lowered their price objective on Advanced Micro Devices from $20.00 to $18.00 and set a “market perform” rating on the stock in a research report on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $23.65.
In other news, SVP Forrest Eugene Norrod sold 62,500 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $32.51, for a total transaction of $2,031,875.00. Following the transaction, the senior vice president now directly owns 955,790 shares of the company’s stock, valued at $31,072,732.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark D. Papermaster sold 50,000 shares of the firm’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $32.51, for a total value of $1,625,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 579,890 shares of company stock worth $13,918,336. 1.80% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in AMD. Renaissance Technologies LLC grew its stake in shares of Advanced Micro Devices by 541.5% during the second quarter. Renaissance Technologies LLC now owns 7,427,326 shares of the semiconductor manufacturer’s stock valued at $111,336,000 after buying an additional 6,269,500 shares during the last quarter. Swedbank bought a new position in shares of Advanced Micro Devices during the third quarter valued at about $152,865,000. First Trust Advisors LP grew its stake in shares of Advanced Micro Devices by 1,047.7% during the third quarter. First Trust Advisors LP now owns 3,967,231 shares of the semiconductor manufacturer’s stock valued at $122,548,000 after buying an additional 3,621,560 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Advanced Micro Devices by 275.0% during the third quarter. American Century Companies Inc. now owns 4,256,231 shares of the semiconductor manufacturer’s stock valued at $131,475,000 after buying an additional 3,121,246 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its stake in shares of Advanced Micro Devices by 84.8% during the second quarter. Eagle Asset Management Inc. now owns 6,769,440 shares of the semiconductor manufacturer’s stock valued at $101,473,000 after buying an additional 3,105,441 shares during the last quarter. 59.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of AMD stock opened at $19.46 on Friday. The company has a current ratio of 1.76, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04. Advanced Micro Devices has a 52-week low of $9.04 and a 52-week high of $34.14. The firm has a market capitalization of $21.11 billion, a P/E ratio of 243.25, a price-to-earnings-growth ratio of 4.34 and a beta of 3.68.
Advanced Micro Devices Company Profile
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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