Advanced Micro Devices (AMD) Set to Announce Quarterly Earnings on Tuesday

Advanced Micro Devices (NASDAQ:AMD) will be announcing its earnings results after the market closes on Tuesday, April 30th. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Advanced Micro Devices has set its Q1 2024 guidance at EPS.Investors interested in listening to the company’s conference call can do so using this link.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, January 30th. The semiconductor manufacturer reported $0.77 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.77. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The firm had revenue of $6.17 billion during the quarter, compared to the consensus estimate of $6.13 billion. During the same period last year, the company earned $0.54 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. On average, analysts expect Advanced Micro Devices to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Advanced Micro Devices Stock Performance

Shares of Advanced Micro Devices stock opened at $148.64 on Tuesday. The business has a 50-day moving average of $179.18 and a 200 day moving average of $149.56. Advanced Micro Devices has a 12 month low of $81.02 and a 12 month high of $227.30. The stock has a market capitalization of $240.22 billion, a price-to-earnings ratio of 285.85, a price-to-earnings-growth ratio of 2.23 and a beta of 1.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.51 and a quick ratio of 1.86.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Roth Mkm raised their target price on Advanced Micro Devices from $125.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Company lifted their price objective on Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on Advanced Micro Devices from $115.00 to $180.00 and gave the company a “neutral” rating in a research note on Wednesday, January 31st. Wedbush reiterated an “outperform” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group lifted their price objective on Advanced Micro Devices from $157.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Four equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $185.59.

Insider Transactions at Advanced Micro Devices

In other news, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total transaction of $17,511,000.00. Following the completion of the sale, the insider now owns 241,266 shares in the company, valued at $42,248,089.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Advanced Micro Devices news, insider Victor Peng sold 100,000 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $175.11, for a total value of $17,511,000.00. Following the completion of the transaction, the insider now owns 241,266 shares in the company, valued at $42,248,089.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 59,293 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $175.94, for a total value of $10,432,010.42. Following the completion of the transaction, the executive vice president now owns 258,690 shares of the company’s stock, valued at approximately $45,513,918.60. The disclosure for this sale can be found here. Insiders sold 341,143 shares of company stock worth $62,580,844 over the last 90 days. 0.65% of the stock is currently owned by insiders.

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.