Advanced Micro Devices (NASDAQ:AMD) Announces Earnings Results

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, topping analysts’ consensus estimates of $0.61 by $0.01, Yahoo Finance reports. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.74%. The firm had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.48 billion. During the same period in the prior year, the company posted $0.43 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Advanced Micro Devices updated its Q2 2024 guidance to EPS.

Advanced Micro Devices Stock Down 1.6 %

AMD stock traded down $2.24 during midday trading on Thursday, hitting $142.03. The company’s stock had a trading volume of 17,353,412 shares, compared to its average volume of 71,771,555. The stock has a market capitalization of $229.54 billion, a P/E ratio of 209.53, a PEG ratio of 2.41 and a beta of 1.66. 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 twelve month low of $81.02 and a twelve month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMD shares. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a report on Wednesday. Raymond James lowered shares of Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and boosted their price target for the company from $190.00 to $195.00 in a research note on Tuesday, January 30th. New Street Research upgraded shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Wednesday, January 24th. Northland Securities raised shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $195.00 price objective on the stock in a report on Wednesday, January 31st. Finally, TD Cowen boosted their price target on shares of Advanced Micro Devices from $185.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $184.24.

Insider Transactions at Advanced Micro Devices

In other Advanced Micro Devices news, insider Victor Peng sold 100,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the completion of the sale, the insider now owns 241,266 shares of the company’s stock, valued at approximately $42,248,089.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Darla M. Smith sold 1,678 shares of the 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 directly owns 4,209 shares in the company, valued at $794,069.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Victor Peng sold 100,000 shares of the stock in a transaction 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 directly owns 241,266 shares in the company, valued at $42,248,089.26. The disclosure for this sale can be found here. Insiders have sold 341,143 shares of company stock worth $62,580,844 in the last ninety days. Insiders own 0.73% of the company’s stock.

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.