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

Advanced Micro Devices (NASDAQ:AMD) issued 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 company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.74%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 earnings per share. Advanced Micro Devices updated its Q2 2024 guidance to EPS.

Advanced Micro Devices Price Performance

Shares of AMD traded up $0.44 during mid-day trading on Thursday, reaching $144.71. The company had a trading volume of 26,903,031 shares, compared to its average volume of 71,923,516. The company’s 50 day simple moving average is $176.64 and its 200 day simple moving average is $151.54. Advanced Micro Devices has a 1-year low of $81.02 and a 1-year high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51. The company has a market capitalization of $233.87 billion, a price-to-earnings ratio of 211.69, a P/E/G ratio of 2.41 and a beta of 1.66.

Insider Activity at Advanced Micro Devices

In related news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the transaction, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CAO Darla M. Smith sold 1,678 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the transaction, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $164.25, for a total transaction of $2,660,850.00. Following the completion of the transaction, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The disclosure for this sale can be found here. Insiders sold a total of 341,143 shares of company stock worth $62,580,844 in the last quarter. 0.73% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AMD shares. Citigroup dropped their price objective on shares of Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group dropped their price objective on shares of Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday. KeyCorp dropped their price objective on shares of Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday. Raymond James lowered shares of Advanced Micro Devices from a “strong-buy” rating to an “outperform” rating and increased their price objective for the company from $190.00 to $195.00 in a research report on Tuesday, January 30th. Finally, Susquehanna decreased their price target on shares of Advanced Micro Devices from $200.00 to $185.00 and set a “positive” rating on the stock in a research note on Monday. One investment 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $184.24.

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.