Wall Street brokerages predict that Advanced Micro Devices, Inc. (NASDAQ:AMD) will announce $3.00 billion in sales for the current quarter, Zacks reports. Ten analysts have made estimates for Advanced Micro Devices’ earnings, with the lowest sales estimate coming in at $3.00 billion and the highest estimate coming in at $3.03 billion. Advanced Micro Devices posted sales of $2.13 billion during the same quarter last year, which suggests a positive year over year growth rate of 40.8%. The business is expected to announce its next earnings results on Tuesday, January 26th.
According to Zacks, analysts expect that Advanced Micro Devices will report full-year sales of $9.52 billion for the current fiscal year, with estimates ranging from $9.52 billion to $9.55 billion. For the next fiscal year, analysts anticipate that the business will report sales of $12.02 billion, with estimates ranging from $11.66 billion to $12.23 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Advanced Micro Devices.
Advanced Micro Devices (NASDAQ:AMD) last announced its quarterly earnings results on Tuesday, October 27th. The semiconductor manufacturer reported $0.41 earnings per share 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 firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same period in the previous year, the company posted $0.18 earnings per share. Advanced Micro Devices’s revenue was up 55.5% compared to the same quarter last year.
Several equities research analysts have recently weighed in on AMD shares. Wedbush reaffirmed an “outperform” rating and issued a $100.00 target price on shares of Advanced Micro Devices in a research report on Tuesday, October 27th. 140166 upped their price target on Advanced Micro Devices from $85.00 to $95.00 and gave the stock a “positive” rating in a report on Monday, October 26th. Barclays upgraded shares of Advanced Micro Devices from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $85.00 to $100.00 in a research note on Tuesday, October 27th. Smith Barney Citigroup boosted their target price on shares of Advanced Micro Devices from $9.00 to $13.00 in a research report on Wednesday, October 28th. Finally, Zacks Investment Research lowered shares of Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $79.00 price target for the company. in a report on Monday, November 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $80.94.
Shares of Advanced Micro Devices stock opened at $91.71 on Friday. Advanced Micro Devices has a twelve month low of $36.75 and a twelve month high of $97.98. The stock has a market cap of $110.30 billion, a price-to-earnings ratio of 123.93, a price-to-earnings-growth ratio of 1.84 and a beta of 2.27. The company has a current ratio of 2.28, a quick ratio of 1.74 and a debt-to-equity ratio of 0.10. The company has a fifty day moving average price of $90.04 and a 200 day moving average price of $77.95.
In other news, EVP Rick Bergman sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $74.88, for a total transaction of $149,760.00. Following the transaction, the executive vice president now directly owns 73,891 shares in the company, valued at approximately $5,532,958.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 43,000 shares of the company’s stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $84.17, for a total transaction of $3,619,310.00. Following the completion of the transaction, the executive vice president now directly owns 1,465,329 shares in the company, valued at $123,336,741.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 240,106 shares of company stock valued at $21,439,403. 1.20% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Freestone Capital Holdings LLC acquired a new stake in Advanced Micro Devices in the third quarter valued at approximately $25,000. CENTRAL TRUST Co boosted its holdings in Advanced Micro Devices by 644.7% in the third quarter. CENTRAL TRUST Co now owns 350 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 303 shares in the last quarter. Clear Harbor Asset Management LLC acquired a new position in Advanced Micro Devices during the third quarter worth $30,000. Clear Investment Research LLC bought a new position in Advanced Micro Devices during the third quarter valued at about $33,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Advanced Micro Devices by 433.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 640 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 60.58% of the company’s stock.
About Advanced Micro Devices
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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