Zacks: Analysts Anticipate Advanced Micro Devices, Inc. (NASDAQ:AMD) Will Announce Quarterly Sales of $4.12 Billion

Brokerages expect Advanced Micro Devices, Inc. (NASDAQ:AMD) to report $4.12 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Advanced Micro Devices’ earnings. The highest sales estimate is $4.19 billion and the lowest is $4.10 billion. Advanced Micro Devices posted sales of $2.80 billion in the same quarter last year, which would indicate a positive year over year growth rate of 47.1%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, October 26th.

According to Zacks, analysts expect that Advanced Micro Devices will report full-year sales of $15.66 billion for the current year, with estimates ranging from $15.60 billion to $15.93 billion. For the next fiscal year, analysts anticipate that the company will report sales of $17.93 billion, with estimates ranging from $17.27 billion to $18.80 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Advanced Micro Devices.

Advanced Micro Devices (NASDAQ:AMD) last posted its quarterly earnings data on Monday, July 26th. The semiconductor manufacturer reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.09. The company had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.61 billion. Advanced Micro Devices had a return on equity of 39.20% and a net margin of 25.76%. Advanced Micro Devices’s revenue was up 99.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.18 EPS.

AMD has been the topic of a number of recent research reports. BMO Capital Markets raised Advanced Micro Devices from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $80.00 to $110.00 in a research report on Monday, August 9th. The Goldman Sachs Group restated a “buy” rating and issued a $130.00 price objective on shares of Advanced Micro Devices in a research note on Friday, August 27th. Westpark Capital began coverage on shares of Advanced Micro Devices in a research note on Tuesday, May 25th. They set a “buy” rating for the company. KeyCorp started coverage on shares of Advanced Micro Devices in a research note on Thursday, May 20th. They set a “sector weight” rating for the company. Finally, Citigroup increased their price target on shares of Advanced Micro Devices from $95.00 to $100.00 and gave the stock a “neutral” rating in a report on Wednesday, July 28th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $104.48.

Shares of AMD stock traded up $0.93 during trading on Thursday, hitting $105.73. 40,590,551 shares of the stock traded hands, compared to its average volume of 50,600,879. The firm has a market capitalization of $128.25 billion, a P/E ratio of 37.76, a price-to-earnings-growth ratio of 1.04 and a beta of 2.01. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.70 and a quick ratio of 2.09. The firm’s fifty day moving average price is $102.40 and its 200-day moving average price is $88.56. Advanced Micro Devices has a 52-week low of $72.50 and a 52-week high of $122.49.

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 17,788 shares of the stock in a transaction dated Friday, June 25th. The shares were sold at an average price of $86.30, for a total transaction of $1,535,104.40. Following the sale, the executive vice president now owns 44,211 shares of the company’s stock, valued at approximately $3,815,409.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Rick Bergman sold 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $109.43, for a total transaction of $218,860.00. Following the completion of the transaction, the executive vice president now directly owns 93,988 shares in the company, valued at approximately $10,285,106.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 330,208 shares of company stock valued at $33,902,137. Corporate insiders own 1.00% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Fifth Third Bancorp raised its position in shares of Advanced Micro Devices by 18.1% in the 1st quarter. Fifth Third Bancorp now owns 52,080 shares of the semiconductor manufacturer’s stock valued at $4,088,000 after acquiring an additional 7,968 shares during the period. Centaurus Financial Inc. raised its position in shares of Advanced Micro Devices by 7.3% in the 2nd quarter. Centaurus Financial Inc. now owns 24,965 shares of the semiconductor manufacturer’s stock valued at $2,345,000 after acquiring an additional 1,698 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Advanced Micro Devices by 1.5% in the 2nd quarter. Mutual of America Capital Management LLC now owns 158,453 shares of the semiconductor manufacturer’s stock valued at $14,883,000 after acquiring an additional 2,391 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Advanced Micro Devices by 13.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 224,099 shares of the semiconductor manufacturer’s stock valued at $21,050,000 after acquiring an additional 26,728 shares during the period. Finally, Virtu Financial LLC acquired a new stake in Advanced Micro Devices during the 1st quarter worth approximately $4,365,000. Institutional investors and hedge funds own 66.49% of the company’s stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services.

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