Advanced Micro Devices (NASDAQ:AMD) Releases Earnings Results, Beats Estimates By $0.22 EPS

Advanced Micro Devices (NASDAQ:AMD – Get Rating) issued its quarterly earnings results on Tuesday. The semiconductor manufacturer reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.22, MarketWatch Earnings reports. The company had revenue of $5.89 billion for the quarter, compared to analyst estimates of $5.57 billion. Advanced Micro Devices had a net margin of 19.24% and a return on equity of 44.25%. Advanced Micro Devices’s revenue was up 70.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share.

AMD opened at $91.13 on Wednesday. The stock has a market cap of $109.29 billion, a price-to-earnings ratio of 35.32, a PEG ratio of 0.77 and a beta of 1.87. Advanced Micro Devices has a twelve month low of $72.50 and a twelve month high of $164.46. The company’s 50-day moving average price is $105.12 and its two-hundred day moving average price is $123.77.

In related news, EVP Mark D. Papermaster sold 20,180 shares of the company’s stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $128.63, for a total transaction of $2,595,753.40. 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 company’s stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $117.12, for a total transaction of $234,240.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,324 shares of company stock worth $21,986,142. Corporate insiders own 1.00% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Covington Capital Management lifted its stake in shares of Advanced Micro Devices by 91.3% during the 4th quarter. Covington Capital Management now owns 220 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 105 shares in the last quarter. Monolith Advisors bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $54,000. Colony Group LLC bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $256,000. HB Wealth Management LLC bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $267,000. Finally, SkyView Investment Advisors LLC bought a new stake in Advanced Micro Devices during the 4th quarter worth approximately $288,000. Institutional investors own 69.61% of the company’s stock.

A number of equities analysts recently weighed in on the stock. Raymond James raised shares of Advanced Micro Devices from an “outperform” rating to a “strong-buy” rating and set a $160.00 target price for the company in a research note on Monday, April 25th. Susquehanna Bancshares lifted their target price on shares of Advanced Micro Devices from $175.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, February 2nd. Craig Hallum lifted their target price on shares of Advanced Micro Devices from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 2nd. Susquehanna lifted their target price on shares of Advanced Micro Devices from $175.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, February 2nd. Finally, downgraded shares of Advanced Micro Devices from a “buy” rating to a “hold” rating in a research note on Thursday, April 14th. Twelve analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $144.37.

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.

Further Reading