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

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

Advanced Micro Devices Stock Performance

Shares of AMD stock traded up $0.94 during trading hours on Thursday, reaching $145.21. 34,743,988 shares of the company’s stock were exchanged, compared to its average volume of 72,026,102. Advanced Micro Devices has a fifty-two week low of $81.02 and a fifty-two week high of $227.30. 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 business has a fifty day moving average price of $176.64 and a 200-day moving average price of $151.54. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.03.

Wall Street Analyst Weigh In

Several research firms recently commented on AMD. Melius Research raised Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $188.00 price target on the stock in a research report on Monday, January 8th. Cantor Fitzgerald cut their target price on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday. Wells Fargo & Company upped their target price on Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. HSBC raised Advanced Micro Devices from a “hold” rating to a “buy” rating and upped their target price for the company from $180.00 to $225.00 in a research report on Tuesday, April 16th. Finally, Truist Financial lowered their price target on Advanced Micro Devices from $174.00 to $162.00 and set a “hold” rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $184.24.

Insider Transactions at Advanced Micro Devices

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 completion of the transaction, the insider now directly owns 241,266 shares in the company, valued at $42,248,089.26. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the completion of the transaction, the executive vice president now directly owns 1,554,602 shares in the company, valued at $255,343,378.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The disclosure for this sale can be found here. Insiders sold a total of 341,143 shares of company stock worth $62,580,844 over the last three months. 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.