Advanced Micro Devices (NASDAQ:AMD) Releases Earnings Results

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

Advanced Micro Devices Stock Performance

AMD stock traded down $2.24 during mid-day trading on Thursday, hitting $142.03. 17,353,412 shares of the company were exchanged, compared to its average volume of 71,771,555. The business has a 50 day simple moving average of $176.64 and a 200-day simple moving average of $151.54. The stock has a market capitalization of $229.54 billion, a PE ratio of 209.53, a price-to-earnings-growth ratio of 2.41 and a beta of 1.66. Advanced Micro Devices has a 1-year low of $81.02 and a 1-year high of $227.30. The company has a current ratio of 2.51, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Benchmark dropped their target price on shares of Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley lowered their price target on shares of Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating on the stock in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Advanced Micro Devices from $115.00 to $180.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. DZ Bank restated a “hold” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Thursday, March 7th. Finally, HSBC raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $180.00 to $225.00 in a report on Tuesday, April 16th. One investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.24.

Insider Activity

In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction dated 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 directly owns 4,209 shares of the company’s stock, valued at $794,069.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Joseph A. Householder sold 6,572 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the transaction, the director now directly owns 2,197 shares of the company’s stock, valued at approximately $457,151.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Darla M. Smith sold 1,678 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at $794,069.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 341,143 shares of company stock worth $62,580,844. Company 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.