Brokerages forecast that Advanced Micro Devices, Inc. (NASDAQ:AMD) will post $1.80 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Advanced Micro Devices’ earnings, with estimates ranging from $1.80 billion to $1.81 billion. Advanced Micro Devices posted sales of $1.65 billion during the same quarter last year, which suggests a positive year over year growth rate of 9.1%. The company is expected to report its next earnings report on Wednesday, October 23rd.
On average, analysts expect that Advanced Micro Devices will report full-year sales of $6.76 billion for the current financial year, with estimates ranging from $6.67 billion to $6.81 billion. For the next fiscal year, analysts expect that the firm will report sales of $8.41 billion, with estimates ranging from $7.83 billion to $9.28 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Advanced Micro Devices.
Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.52 billion. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The firm’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS.
A number of analysts recently commented on AMD shares. Nomura set a $37.00 target price on shares of Advanced Micro Devices and gave the stock a “buy” rating in a research report on Friday, August 23rd. Wedbush cut shares of Advanced Micro Devices from an “equal weight” rating to a “hold” rating in a report on Wednesday, July 31st. Piper Jaffray Companies began coverage on shares of Advanced Micro Devices in a report on Monday, August 19th. They issued a “neutral” rating and a $33.00 price target for the company. Bank of America lifted their price objective on shares of Advanced Micro Devices from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, KeyCorp reissued a “hold” rating on shares of Advanced Micro Devices in a report on Friday, September 6th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $31.59.
In related news, EVP Mark E. Wallace sold 12,559 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $13.42, for a total transaction of $168,541.78. Also, EVP Mark D. Papermaster sold 30,000 shares of Advanced Micro Devices stock in a transaction on Friday, June 14th. The shares were sold at an average price of $30.70, for a total transaction of $921,000.00. Following the completion of the transaction, the executive vice president now directly owns 1,329,588 shares of the company’s stock, valued at approximately $40,818,351.60. The disclosure for this sale can be found here. Insiders sold 1,538,408 shares of company stock worth $49,994,038 in the last 90 days. Company insiders own 1.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC purchased a new position in shares of Advanced Micro Devices in the first quarter valued at approximately $25,000. Peddock Capital Advisors LLC boosted its position in shares of Advanced Micro Devices by 151.5% during the 1st quarter. Peddock Capital Advisors LLC now owns 1,021 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 615 shares during the last quarter. Advisory Alpha LLC acquired a new position in shares of Advanced Micro Devices during the 1st quarter valued at about $26,000. Berman Capital Advisors LLC grew its holdings in shares of Advanced Micro Devices by 99.4% in the first quarter. Berman Capital Advisors LLC now owns 1,077 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 537 shares during the period. Finally, First PREMIER Bank purchased a new stake in shares of Advanced Micro Devices in the second quarter valued at about $30,000. 64.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of AMD traded down $0.43 during mid-day trading on Friday, hitting $29.81. 21,548,560 shares of the company traded hands, compared to its average volume of 57,855,156. The company has a market capitalization of $33.11 billion, a PE ratio of 85.16, a price-to-earnings-growth ratio of 2.66 and a beta of 3.07. The company has a quick ratio of 1.52, a current ratio of 2.08 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $31.40 and a 200 day moving average of $28.88. Advanced Micro Devices has a 1-year low of $16.03 and a 1-year high of $35.55.
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 (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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