$1.51 Billion in Sales Expected for Advanced Micro Devices, Inc. (AMD) This Quarter
Wall Street brokerages forecast that Advanced Micro Devices, Inc. (NASDAQ:AMD) will post $1.51 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Advanced Micro Devices’ earnings, with estimates ranging from $1.50 billion to $1.56 billion. Advanced Micro Devices posted sales of $1.31 billion in the same quarter last year, which would indicate a positive year over year growth rate of 15.3%. The company is scheduled to announce its next earnings report on Thursday, October 19th.
On average, analysts expect that Advanced Micro Devices will report full-year sales of $1.51 billion for the current financial year, with estimates ranging from $4.90 billion to $5.28 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.68 billion per share, with estimates ranging from $5.30 billion to $6.14 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Advanced Micro Devices.
Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.04. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.05) EPS.
Several research analysts recently commented on the stock. Morgan Stanley reiterated an “equal weight” rating on shares of Advanced Micro Devices in a report on Monday, May 15th. Goldman Sachs Group, Inc. (The) reiterated a “sell” rating and issued a $10.60 target price on shares of Advanced Micro Devices in a report on Monday, June 12th. Sanford C. Bernstein reiterated a “sell” rating on shares of Advanced Micro Devices in a report on Tuesday, April 25th. Wells Fargo & Company reiterated an “outperform” rating and issued a $15.00 target price on shares of Advanced Micro Devices in a report on Friday, June 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $15.00 target price on shares of Advanced Micro Devices in a report on Wednesday, May 17th. Five analysts have rated the stock with a sell rating, sixteen have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Advanced Micro Devices currently has a consensus rating of “Hold” and an average price target of $14.18.
In other Advanced Micro Devices news, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $525,600,000.00, for a total value of $21,024,000,000,000,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Devinder Kumar sold 100,634 shares of the business’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $10.85, for a total transaction of $1,091,878.90. Following the completion of the transaction, the chief financial officer now directly owns 704,311 shares of the company’s stock, valued at $7,641,774.35. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,360,216 shares of company stock valued at $21,024,000,017,670,000. Insiders own 1.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Advanced Micro Devices during the first quarter worth $100,000. Intellectus Partners LLC acquired a new stake in Advanced Micro Devices during the first quarter worth $116,000. K.J. Harrison & Partners Inc acquired a new stake in Advanced Micro Devices during the second quarter worth $125,000. ING Groep NV acquired a new stake in Advanced Micro Devices during the first quarter worth $127,000. Finally, Global X Management Co. LLC acquired a new stake in Advanced Micro Devices during the second quarter worth $143,000. 57.34% of the stock is owned by institutional investors.
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Advanced Micro Devices (NASDAQ AMD) opened at 13.43 on Tuesday. The firm has a 50-day moving average of $13.36 and a 200-day moving average of $12.73. The stock’s market capitalization is $12.69 billion. Advanced Micro Devices has a 52-week low of $5.66 and a 52-week high of $15.65.
About Advanced Micro Devices
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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