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

Advanced Micro Devices (NASDAQ:AMD) released its quarterly earnings data on Tuesday. The semiconductor manufacturer reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01, Briefing.com reports. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The company had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the business posted $0.40 EPS. Advanced Micro Devices’s revenue for the quarter was up 8.9% on a year-over-year basis. Advanced Micro Devices updated its Q3 2024 guidance to EPS.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $144.48 on Thursday. The company has a market capitalization of $233.52 billion, a PE ratio of 212.47, a price-to-earnings-growth ratio of 1.62 and a beta of 1.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.64. Advanced Micro Devices has a 52-week low of $93.11 and a 52-week high of $227.30. The company has a 50-day simple moving average of $161.64 and a 200 day simple moving average of $168.10.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMD shares. TD Cowen lifted their target price on shares of Advanced Micro Devices from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Mizuho reduced their price objective on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley raised their target price on Advanced Micro Devices from $176.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Cantor Fitzgerald reduced their price target on Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, HSBC upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and boosted their target price for the company from $180.00 to $225.00 in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have assigned a buy rating to the company. Based on data from MarketBeat, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and a consensus target price of $193.45.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the sale, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, 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 the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $184.50, for a total value of $3,091,482.00. Following the completion of the transaction, the executive vice president now directly owns 1,546,227 shares of the company’s stock, valued at $285,278,881.50. The disclosure for this sale can be found here. Corporate 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.