Wedbush Equities Analysts Cut Earnings Estimates for Advanced Micro Devices, Inc. (NASDAQ:AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Stock analysts at Wedbush dropped their Q1 2021 earnings per share estimates for Advanced Micro Devices in a research report issued to clients and investors on Tuesday, January 12th. Wedbush analyst M. Bryson now expects that the semiconductor manufacturer will post earnings per share of $0.30 for the quarter, down from their prior forecast of $0.32. Wedbush has a “Outperform” rating and a $110.00 price target on the stock. Wedbush also issued estimates for Advanced Micro Devices’ Q2 2021 earnings at $0.35 EPS, Q3 2021 earnings at $0.49 EPS, Q4 2021 earnings at $0.54 EPS and FY2021 earnings at $1.68 EPS.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 27th. The semiconductor manufacturer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.10. Advanced Micro Devices had a net margin of 10.17% and a return on equity of 33.04%. The business had revenue of $2.80 billion during the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the prior year, the company earned $0.18 earnings per share. The business’s revenue was up 55.5% compared to the same quarter last year.

A number of other brokerages have also recently commented on AMD. Craig Hallum raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $100.00 in a report on Wednesday, October 28th. Mizuho upped their target price on shares of Advanced Micro Devices from $93.00 to $102.00 and gave the company a “buy” rating in a report on Monday, December 28th. JPMorgan Chase & Co. upped their target price on shares of Advanced Micro Devices from $62.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, October 28th. The Goldman Sachs Group increased their price target on shares of Advanced Micro Devices from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, December 14th. Finally, Barclays raised shares of Advanced Micro Devices from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $100.00 in a report on Tuesday, October 27th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $82.00.

Shares of NASDAQ:AMD opened at $91.78 on Thursday. The company has a 50-day simple moving average of $92.72 and a 200-day simple moving average of $80.58. Advanced Micro Devices has a one year low of $36.75 and a one year high of $99.23. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.74 and a current ratio of 2.28. The stock has a market capitalization of $110.38 billion, a price-to-earnings ratio of 124.03, a PEG ratio of 1.20 and a beta of 2.29.

A number of institutional investors have recently added to or reduced their stakes in AMD. Sylebra Capital Ltd acquired a new position in Advanced Micro Devices in the third quarter valued at $114,322,000. Point72 Asset Management L.P. bought a new position in shares of Advanced Micro Devices during the third quarter valued at $108,613,000. Two Sigma Advisers LP raised its stake in shares of Advanced Micro Devices by 193.3% during the second quarter. Two Sigma Advisers LP now owns 1,953,568 shares of the semiconductor manufacturer’s stock valued at $102,777,000 after acquiring an additional 1,287,400 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Advanced Micro Devices by 61.0% during the third quarter. Robeco Institutional Asset Management B.V. now owns 3,255,650 shares of the semiconductor manufacturer’s stock worth $266,929,000 after purchasing an additional 1,233,991 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in shares of Advanced Micro Devices by 23.5% in the third quarter. UBS Asset Management Americas Inc. now owns 5,841,883 shares of the semiconductor manufacturer’s stock worth $478,976,000 after purchasing an additional 1,112,059 shares during the last quarter. Hedge funds and other institutional investors own 67.01% of the company’s stock.

In other news, CEO Lisa T. Su sold 150,000 shares of the business’s stock in a transaction on Tuesday, December 8th. The stock was sold at an average price of $92.89, for a total value of $13,933,500.00. Following the completion of the transaction, the chief executive officer now directly owns 2,776,039 shares of the company’s stock, valued at $257,866,262.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark D. Papermaster sold 43,000 shares of the business’s stock in a transaction on Friday, November 13th. The stock was sold at an average price of $82.36, for a total value of $3,541,480.00. Following the completion of the transaction, the executive vice president now directly owns 1,465,329 shares of the company’s stock, valued at $120,684,496.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 197,106 shares of company stock valued at $17,820,093. Insiders own 1.20% of the company’s stock.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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