Analysts Anticipate Advanced Micro Devices, Inc. (NASDAQ:AMD) Will Post Quarterly Sales of $1.80 Billion

Brokerages expect Advanced Micro Devices, Inc. (NASDAQ:AMD) to announce $1.80 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Advanced Micro Devices’ earnings, with estimates ranging from $1.80 billion to $1.81 billion. Advanced Micro Devices reported sales of $1.65 billion in the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The company is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, October 29th.

On average, analysts expect that Advanced Micro Devices will report full-year sales of $6.76 billion for the current fiscal year, with estimates ranging from $6.67 billion to $6.81 billion. For the next financial year, analysts anticipate that the firm will post sales of $8.44 billion, with estimates ranging from $7.83 billion to $9.28 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Advanced Micro Devices.

Advanced Micro Devices (NASDAQ:AMD) last issued its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.08 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.08. Advanced Micro Devices had a return on equity of 16.04% and a net margin of 3.25%. The company had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same period in the previous year, the company posted $0.14 EPS. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year.

Several equities analysts have weighed in on AMD shares. Jefferies Financial Group lifted their price objective on Advanced Micro Devices from $34.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Deutsche Bank reissued a “hold” rating and set a $29.00 price target (up previously from $25.00) on shares of Advanced Micro Devices in a report on Tuesday, July 30th. UBS Group boosted their price target on Advanced Micro Devices from $24.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. ValuEngine cut Advanced Micro Devices from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Craig Hallum cut Advanced Micro Devices from a “buy” rating to a “hold” rating and set a $33.00 price target for the company. in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, nineteen have assigned a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $32.32.

In related news, SVP Paul Darren Grasby sold 6,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $31.30, for a total transaction of $187,800.00. Following the sale, the senior vice president now owns 33,113 shares in the company, valued at approximately $1,036,436.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Forrest Eugene Norrod sold 50,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $34.12, for a total value of $1,706,000.00. Following the sale, the senior vice president now owns 809,171 shares in the company, valued at approximately $27,608,914.52. The disclosure for this sale can be found here. Insiders have sold a total of 1,717,405 shares of company stock worth $55,408,542 in the last 90 days. 1.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of AMD. Vanguard Group Inc. grew its position in shares of Advanced Micro Devices by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 107,711,218 shares of the semiconductor manufacturer’s stock valued at $3,271,190,000 after buying an additional 4,205,071 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Advanced Micro Devices by 5,801.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 13,053,535 shares of the semiconductor manufacturer’s stock valued at $396,435,000 after buying an additional 12,832,339 shares during the last quarter. Northern Trust Corp grew its position in shares of Advanced Micro Devices by 2.4% in the 2nd quarter. Northern Trust Corp now owns 10,377,326 shares of the semiconductor manufacturer’s stock valued at $315,158,000 after buying an additional 246,225 shares during the last quarter. Amundi Pioneer Asset Management Inc. grew its position in shares of Advanced Micro Devices by 4.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 6,112,632 shares of the semiconductor manufacturer’s stock valued at $155,993,000 after buying an additional 275,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Advanced Micro Devices by 3.5% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,121,778 shares of the semiconductor manufacturer’s stock valued at $125,179,000 after buying an additional 139,105 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

Shares of NASDAQ AMD traded up $0.99 during midday trading on Thursday, hitting $32.71. 45,189,100 shares of the company’s stock were exchanged, compared to its average volume of 42,361,752. The firm has a market capitalization of $34.43 billion, a PE ratio of 93.46, a price-to-earnings-growth ratio of 2.77 and a beta of 2.99. The company has a quick ratio of 1.52, a current ratio of 2.08 and a debt-to-equity ratio of 0.54. The company’s 50 day moving average price is $30.08 and its 200 day moving average price is $30.03. Advanced Micro Devices has a 12 month low of $16.03 and a 12 month high of $35.55.

Advanced Micro Devices Company Profile

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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