Advanced Micro Devices (NASDAQ:AMD) Posts Earnings Results, Beats Estimates By $0.01 EPS

Advanced Micro Devices (NASDAQ:AMD) announced its quarterly earnings data on Tuesday. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01, Yahoo Finance reports. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. Advanced Micro Devices had a return on equity of 5.74% and a net margin of 4.89%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. Advanced Micro Devices updated its Q2 2024 guidance to EPS.

Advanced Micro Devices Stock Performance

AMD traded up $0.94 during mid-day trading on Thursday, reaching $145.21. 34,743,988 shares of the company traded hands, compared to its average volume of 72,026,102. The stock has a market capitalization of $234.68 billion, a P/E ratio of 211.69, a P/E/G ratio of 2.41 and a beta of 1.66. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average price is $176.64 and its 200-day moving average price is $151.54. Advanced Micro Devices has a 52-week low of $81.02 and a 52-week high of $227.30.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Roth Mkm dropped their price target on Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating on the stock in a research note on Wednesday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a report on Wednesday. Morgan Stanley reduced their target price on Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating for the company in a report on Monday. Mizuho reduced their price objective on Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Evercore ISI reduced their price objective on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. According to MarketBeat, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average target price of $184.24.

Insider Activity

In other news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total transaction of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the transaction, the insider now owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The disclosure for this sale can be found here. Insiders sold a total of 341,143 shares of company stock valued at $62,580,844 in the last 90 days. Company insiders own 0.73% of the company’s stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates through Data Center, Client, Gaming, and Embedded segments. The company offers x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs; and embedded processors, and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing unites, field programmable gate arrays (FPGA), and adaptive SoC products.