Advanced Micro Devices, Inc. (NASDAQ:AMD) Expected to Announce Quarterly Sales of $5.00 Billion

Wall Street brokerages expect that Advanced Micro Devices, Inc. (NASDAQ:AMDGet Rating) will post $5.00 billion in sales for the current quarter, according to Zacks. Seven analysts have made estimates for Advanced Micro Devices’ earnings. Advanced Micro Devices reported sales of $3.45 billion during the same quarter last year, which indicates a positive year over year growth rate of 44.9%. The firm is scheduled to issue its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Advanced Micro Devices will report full year sales of $21.46 billion for the current financial year, with estimates ranging from $21.00 billion to $21.64 billion. For the next fiscal year, analysts expect that the firm will report sales of $24.03 billion, with estimates ranging from $23.14 billion to $25.00 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Advanced Micro Devices.

Advanced Micro Devices (NASDAQ:AMDGet Rating) last released its quarterly earnings results on Tuesday, February 1st. The semiconductor manufacturer reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.14. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.52 billion. Advanced Micro Devices had a net margin of 19.24% and a return on equity of 44.25%. The firm’s revenue for the quarter was up 48.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.45 earnings per share.

AMD has been the topic of a number of research reports. The Goldman Sachs Group cut shares of Advanced Micro Devices from a “conviction-buy” rating to a “buy” rating and dropped their target price for the company from $159.00 to $127.00 in a report on Sunday, March 27th. Rosenblatt Securities boosted their target price on shares of Advanced Micro Devices from $180.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, February 2nd. JPMorgan Chase & Co. boosted their target price on shares of Advanced Micro Devices from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Wednesday, February 2nd. Bank of America boosted their target price on shares of Advanced Micro Devices from $175.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, February 2nd. Finally, Truist Financial dropped their target price on shares of Advanced Micro Devices from $144.00 to $111.00 and set a “hold” rating on the stock in a report on Friday, April 8th. Thirteen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Buy” and a consensus target price of $147.41.

NASDAQ:AMD opened at $93.06 on Friday. The stock has a market cap of $111.61 billion, a P/E ratio of 36.07, a price-to-earnings-growth ratio of 0.88 and a beta of 1.81. The firm’s fifty day simple moving average is $111.91 and its 200 day simple moving average is $124.90. Advanced Micro Devices has a twelve month low of $72.50 and a twelve month high of $164.46.

In other Advanced Micro Devices news, EVP Paul Darren Grasby sold 9,852 shares of the business’s stock in a transaction dated Wednesday, February 2nd. The stock was sold at an average price of $130.00, for a total transaction of $1,280,760.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Edward Caldwell sold 10,000 shares of the business’s stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $109.28, for a total value of $1,092,800.00. Following the sale, the director now owns 4,672 shares of the company’s stock, valued at $510,556.16. The disclosure for this sale can be found here. In the last three months, insiders sold 191,176 shares of company stock valued at $23,266,902. 1.00% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in AMD. Financial Counselors Inc. bought a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at about $297,000. Emerald Advisers LLC bought a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at about $297,000. Navellier & Associates Inc. bought a new stake in shares of Advanced Micro Devices during the 3rd quarter valued at about $329,000. Ahrens Investment Partners LLC grew its stake in shares of Advanced Micro Devices by 13.0% during the 3rd quarter. Ahrens Investment Partners LLC now owns 4,040 shares of the semiconductor manufacturer’s stock valued at $416,000 after purchasing an additional 465 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Advanced Micro Devices by 22.8% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 70,807 shares of the semiconductor manufacturer’s stock valued at $7,286,000 after acquiring an additional 13,131 shares during the period. Institutional investors and hedge funds own 68.92% of the company’s stock.

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.

See Also

Get a free copy of the Zacks research report on Advanced Micro Devices (AMD)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Advanced Micro Devices (NASDAQ:AMD)

Receive News & Ratings for Advanced Micro Devices Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Advanced Micro Devices and related companies with MarketBeat.com's FREE daily email newsletter.