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

Advanced Micro Devices (NASDAQ:AMD) released its quarterly earnings data on Tuesday. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01, Briefing.com reports. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. The company had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period last year, the firm earned $0.40 EPS. Advanced Micro Devices’s revenue for the quarter was up 8.9% on a year-over-year basis. Advanced Micro Devices updated its Q3 2024 guidance to EPS.

Advanced Micro Devices Price Performance

Shares of NASDAQ:AMD traded down $1.31 during midday trading on Tuesday, hitting $138.44. 68,064,424 shares of the stock were exchanged, compared to its average volume of 63,489,273. The stock has a market cap of $223.76 billion, a P/E ratio of 203.59, a PEG ratio of 1.62 and a beta of 1.69. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a twelve month low of $93.11 and a twelve month high of $227.30. The company has a 50 day moving average price of $162.06 and a 200-day moving average price of $168.26.

Insider Transactions at Advanced Micro Devices

In related news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Mark D. Papermaster sold 16,756 shares of Advanced Micro Devices stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $158.94, for a total value of $2,574,828.00. Following the sale, the executive vice president now owns 1,546,227 shares of the company’s stock, valued at approximately $245,757,319.38. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AMD shares. Citigroup raised their price objective on shares of Advanced Micro Devices from $176.00 to $210.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Evercore ISI cut their price target on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. StockNews.com raised shares of Advanced Micro Devices from a “sell” rating to a “hold” rating in a report on Thursday, July 18th. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a report on Wednesday, May 1st. Finally, Jefferies Financial Group began coverage on shares of Advanced Micro Devices in a research note on Monday, May 13th. They set a “buy” rating and a $190.00 target price on the stock. Four research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $193.07.

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.