Advanced Micro Devices (NASDAQ:AMD) Issues Earnings Results, Hits Expectations

Advanced Micro Devices (NASDAQ:AMD) announced its quarterly earnings data on Tuesday. The semiconductor manufacturer reported $0.92 EPS for the quarter, hitting the consensus estimate of $0.92, Briefing.com reports. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. Advanced Micro Devices updated its Q4 2024 guidance to EPS.

Advanced Micro Devices Stock Performance

Advanced Micro Devices stock opened at $144.07 on Friday. The firm has a fifty day simple moving average of $155.01 and a two-hundred day simple moving average of $155.94. Advanced Micro Devices has a twelve month low of $94.07 and a twelve month high of $227.30. The company has a market capitalization of $233.17 billion, a PE ratio of 129.79, a P/E/G ratio of 2.03 and a beta of 1.70. The company has a quick ratio of 2.01, a current ratio of 2.50 and a debt-to-equity ratio of 0.03.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AMD shares. Barclays dropped their price objective on Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating on the stock in a research note on Wednesday. Morgan Stanley cut their price target on Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday. Roth Mkm reaffirmed a “buy” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. StockNews.com downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a report on Wednesday, July 31st. Finally, UBS Group reduced their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $192.79.

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.