Advanced Micro Devices (NASDAQ:AMD) Issues Earnings Results

Advanced Micro Devices (NASDAQ:AMD) issued its quarterly earnings results on Tuesday. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01, Briefing.com reports. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 6.00%. The business had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. Advanced Micro Devices updated its Q3 2024 guidance to EPS.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock traded down $11.94 during mid-day trading on Thursday, reaching $132.54. The company’s stock had a trading volume of 93,777,907 shares, compared to its average volume of 64,050,617. The firm has a market cap of $214.23 billion, a price-to-earnings ratio of 193.14, a PEG ratio of 1.60 and a beta of 1.68. Advanced Micro Devices has a twelve month low of $93.11 and a twelve month high of $227.30. The business has a 50 day moving average price of $161.64 and a 200-day moving average price of $168.10. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMD. Evercore ISI decreased their price objective on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Rosenblatt Securities restated a “buy” rating and issued a $250.00 target price on shares of Advanced Micro Devices in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $175.00 price target (down previously from $195.00) on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. HSBC upgraded Advanced Micro Devices from a “hold” rating to a “buy” rating and upped their price objective for the stock from $180.00 to $225.00 in a report on Tuesday, April 16th. Finally, UBS Group dropped their price target on Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $193.45.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $245,757,319.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the sale, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The disclosure for this sale can be found here. 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.