Advanced Micro Devices, Inc. (AMD) Expected to Announce Quarterly Sales of $1.45 Billion

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Brokerages predict that Advanced Micro Devices, Inc. (NASDAQ:AMD) will announce sales of $1.45 billion for the current quarter, Zacks reports. Seven analysts have provided estimates for Advanced Micro Devices’ earnings, with the lowest sales estimate coming in at $1.45 billion and the highest estimate coming in at $1.48 billion. Advanced Micro Devices reported sales of $1.48 billion during the same quarter last year, which indicates a negative year over year growth rate of 2%. The firm is expected to issue its next earnings results on Tuesday, January 29th.

According to Zacks, analysts expect that Advanced Micro Devices will report full year sales of $6.57 billion for the current financial year, with estimates ranging from $6.51 billion to $6.77 billion. For the next year, analysts forecast that the firm will post sales of $7.43 billion, with estimates ranging from $7.00 billion to $7.93 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Advanced Micro Devices.

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Wednesday, October 24th. The semiconductor manufacturer reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.01. Advanced Micro Devices had a return on equity of 52.84% and a net margin of 5.04%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the firm earned $0.10 EPS. Advanced Micro Devices’s quarterly revenue was up 4.4% compared to the same quarter last year.

A number of research firms have weighed in on AMD. BMO Capital Markets reduced their price target on Advanced Micro Devices from $20.00 to $18.00 and set a “market perform” rating for the company in a research report on Thursday. Cowen reaffirmed an “outperform” rating and set a $33.00 price target (up previously from $30.00) on shares of Advanced Micro Devices in a research report on Thursday, October 18th. Stifel Nicolaus upped their price target on Advanced Micro Devices from $21.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Robert W. Baird downgraded Advanced Micro Devices from an “outperform” rating to a “neutral” rating and upped their price target for the stock from $20.00 to $28.00 in a research report on Monday, October 1st. They noted that the move was a valuation call. Finally, Rosenblatt Securities upped their price target on Advanced Micro Devices from $30.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $23.80.

Shares of AMD traded down $1.64 on Friday, hitting $17.63. The company’s stock had a trading volume of 118,052,260 shares, compared to its average volume of 80,829,086. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.26 and a current ratio of 1.66. Advanced Micro Devices has a fifty-two week low of $9.04 and a fifty-two week high of $34.14. The firm has a market capitalization of $24.40 billion, a PE ratio of 220.38, a P/E/G ratio of 4.70 and a beta of 3.11.

In related news, SVP Forrest Eugene Norrod sold 62,500 shares of the stock in a transaction on Monday, July 30th. The stock was sold at an average price of $19.49, for a total value of $1,218,125.00. Following the sale, the senior vice president now owns 643,772 shares in the company, valued at approximately $12,547,116.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mubadala Investment Co Pjsc sold 22,000,000 shares of the stock in a transaction on Monday, July 30th. The shares were sold at an average price of $19.33, for a total value of $425,260,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 24,802,900 shares of company stock valued at $486,187,496. 1.80% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Advanced Micro Devices by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,195,332 shares of the semiconductor manufacturer’s stock valued at $22,063,000 after buying an additional 38,549 shares in the last quarter. BB&T Securities LLC purchased a new position in Advanced Micro Devices in the 1st quarter valued at about $279,000. Baird Financial Group Inc. purchased a new position in Advanced Micro Devices in the 1st quarter valued at about $202,000. Ladenburg Thalmann Financial Services Inc. raised its holdings in Advanced Micro Devices by 5.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 86,250 shares of the semiconductor manufacturer’s stock valued at $866,000 after acquiring an additional 4,400 shares during the last quarter. Finally, LPL Financial LLC raised its holdings in Advanced Micro Devices by 16.1% in the 1st quarter. LPL Financial LLC now owns 115,260 shares of the semiconductor manufacturer’s stock valued at $1,158,000 after acquiring an additional 15,975 shares during the last quarter. Institutional investors and hedge funds own 66.15% of the company’s stock.

About Advanced Micro Devices

Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. The company's products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.

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