Advanced Micro Devices (NASDAQ:AMD) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Advanced Micro Devices (NASDAQ:AMD) announced its quarterly earnings data on Tuesday. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01, Yahoo Finance reports. Advanced Micro Devices had a return on equity of 5.73% and a net margin of 3.77%. The company had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. During the same quarter in the prior year, the firm earned $0.43 earnings per share. Advanced Micro Devices’s revenue was up 2.2% compared to the same quarter last year. Advanced Micro Devices updated its Q2 2024 guidance to EPS.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $158.38 on Wednesday. The firm has a market cap of $255.96 billion, a PE ratio of 304.58, a PEG ratio of 2.39 and a beta of 1.64. The firm has a fifty day moving average of $177.04 and a 200 day moving average of $151.59. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.51. Advanced Micro Devices has a one year low of $81.02 and a one year high of $227.30.

Analysts Set New Price Targets

A number of research firms have weighed in on AMD. Wells Fargo & Company upped their target price on Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a report on Wednesday, January 31st. Citigroup upped their price objective on Advanced Micro Devices from $136.00 to $192.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. KeyCorp lifted their target price on Advanced Micro Devices from $195.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Evercore ISI assumed coverage on shares of Advanced Micro Devices in a research report on Tuesday, April 16th. They set an “outperform” rating and a $200.00 price target for the company. Finally, New Street Research raised shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 price objective on the stock in a research report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $184.68.

Insider Activity at Advanced Micro Devices

In other news, insider Victor Peng sold 100,000 shares of Advanced Micro Devices stock in a transaction that occurred 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 sale, the insider now directly owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $177.57, for a total value of $2,876,634.00. Following the transaction, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at approximately $276,050,677.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Victor Peng sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $175.11, for a total value of $17,511,000.00. Following the completion of the sale, the insider now owns 241,266 shares of the company’s stock, valued at $42,248,089.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 341,143 shares of company stock valued at $62,580,844. 0.65% of the stock is owned by corporate 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.