Advanced Micro Devices (NASDAQ:AMD) Announces Quarterly Earnings Results

Advanced Micro Devices (NASDAQ:AMD) announced its quarterly earnings results on Tuesday. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92, Briefing.com reports. Advanced Micro Devices had a net margin of 5.82% and a return on equity of 5.98%. The business had revenue of $6.82 billion during the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter last year, the firm earned $0.53 EPS. The business’s revenue was up 17.6% compared to the same quarter last year. Advanced Micro Devices updated its Q4 2024 guidance to EPS.

Advanced Micro Devices Stock Down 2.2 %

AMD stock traded down $3.34 during midday trading on Thursday, reaching $145.26. 15,951,283 shares of the company were exchanged, compared to its average volume of 56,667,020. The stock’s 50-day simple moving average is $155.17 and its 200 day simple moving average is $156.03. Advanced Micro Devices has a 1-year low of $94.07 and a 1-year high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.82. The company has a market cap of $234.79 billion, a price-to-earnings ratio of 212.35, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Truist Financial decreased their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Edward Jones initiated coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They set a “buy” rating on the stock. Citigroup dropped their price objective on Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday. Roth Mkm reissued a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research note on Friday, October 11th. Finally, UBS Group lowered their target price on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Micro Devices presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Company Profile

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.