Advanced Micro Devices (NASDAQ:AMD) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

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

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded up $0.61 during mid-day trading on Thursday, reaching $144.88. 29,887,001 shares of the company’s stock were exchanged, compared to its average volume of 71,978,320. The firm has a market capitalization of $234.15 billion, a PE 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 business’s fifty day simple moving average is $176.64 and its 200 day simple moving average is $151.54. Advanced Micro Devices has a one year low of $81.02 and a one year high of $227.30.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMD. Bank of America raised their price target on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Cantor Fitzgerald decreased their price target on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. Barclays lifted their price objective on Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Melius upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Evercore ISI decreased their target price on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.24.

Insider Activity

In other Advanced Micro Devices news, EVP Forrest Eugene Norrod sold 59,293 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.94, for a total value of $10,432,010.42. Following the transaction, the executive vice president now directly owns 258,690 shares in the company, valued at $45,513,918.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated 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 directly owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $175.94, for a total transaction of $10,432,010.42. Following the transaction, the executive vice president now owns 258,690 shares of the company’s stock, valued at approximately $45,513,918.60. 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 ninety days. 0.73% of the stock is currently owned by insiders.

Advanced Micro Devices Company Profile

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.