Advanced Micro Devices, Inc. (NASDAQ:AMD) Expected to Announce Quarterly Sales of $6.52 Billion

Wall Street analysts expect Advanced Micro Devices, Inc. (NASDAQ:AMDGet Rating) to report $6.52 billion in sales for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Advanced Micro Devices’ earnings, with the lowest sales estimate coming in at $6.50 billion and the highest estimate coming in at $6.61 billion. Advanced Micro Devices posted sales of $3.85 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 69.4%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Advanced Micro Devices will report full-year sales of $25.92 billion for the current year, with estimates ranging from $21.50 billion to $26.58 billion. For the next financial year, analysts anticipate that the company will post sales of $29.30 billion, with estimates ranging from $23.14 billion to $32.09 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Advanced Micro Devices.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The semiconductor manufacturer reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.22. The business had revenue of $5.89 billion during the quarter, compared to analysts’ expectations of $5.57 billion. Advanced Micro Devices had a net margin of 17.98% and a return on equity of 20.66%. The business’s quarterly revenue was up 70.9% on a year-over-year basis. During the same period last year, the company posted $0.47 earnings per share.

A number of research firms have commented on AMD. Cowen reduced their price target on shares of Advanced Micro Devices from $160.00 to $145.00 in a report on Tuesday, February 15th. Sanford C. Bernstein upgraded shares of Advanced Micro Devices from a “market perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a report on Tuesday, February 22nd. cut shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a report on Thursday, April 14th. Barclays cut shares of Advanced Micro Devices from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $148.00 to $115.00 in a report on Thursday, March 31st. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $133.00 price objective on shares of Advanced Micro Devices in a report on Thursday, May 5th. Eleven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Buy” and an average price target of $142.15.

In other news, CFO Devinder Kumar sold 28,966 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The shares were sold at an average price of $100.00, for a total value of $2,896,600.00. Following the sale, the chief financial officer now owns 524,370 shares of the company’s stock, valued at $52,437,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Papermaster sold 20,180 shares of the business’s stock in a transaction that occurred on Wednesday, March 30th. The shares were sold at an average price of $125.00, for a total transaction of $2,522,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 59,146 shares of company stock worth $6,511,900. Insiders own 1.00% of the company’s stock.

A number of large investors have recently modified their holdings of AMD. Vanguard Group Inc. grew its stake in Advanced Micro Devices by 36.9% during the first quarter. Vanguard Group Inc. now owns 133,525,143 shares of the semiconductor manufacturer’s stock valued at $14,599,640,000 after acquiring an additional 36,016,818 shares in the last quarter. BlackRock Inc. grew its stake in Advanced Micro Devices by 34.6% in the 1st quarter. BlackRock Inc. now owns 119,569,366 shares of the semiconductor manufacturer’s stock worth $13,073,716,000 after buying an additional 30,732,205 shares in the last quarter. State Street Corp grew its stake in Advanced Micro Devices by 37.5% in the 1st quarter. State Street Corp now owns 65,577,025 shares of the semiconductor manufacturer’s stock worth $7,170,192,000 after buying an additional 17,896,122 shares in the last quarter. Norges Bank purchased a new position in Advanced Micro Devices in the 4th quarter worth approximately $1,423,132,000. Finally, Renaissance Technologies LLC purchased a new position in Advanced Micro Devices in the 1st quarter worth approximately $777,111,000. 69.61% of the stock is owned by institutional investors.

NASDAQ:AMD opened at $102.26 on Friday. The company has a current ratio of 2.40, a quick ratio of 1.96 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $165.71 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 0.74 and a beta of 1.87. The firm has a fifty day simple moving average of $98.87 and a two-hundred day simple moving average of $119.74. Advanced Micro Devices has a 12 month low of $78.66 and a 12 month high of $164.46.

Advanced Micro Devices Company Profile (Get Rating)

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, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.

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