Advanced Micro Devices (NASDAQ:AMD) Posts Quarterly Earnings Results, Meets Estimates

Advanced Micro Devices (NASDAQ:AMD) issued its earnings results on Tuesday. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The business’s revenue was up 17.6% on a year-over-year basis. Advanced Micro Devices updated its Q4 2024 guidance to EPS.

Advanced Micro Devices Stock Down 3.0 %

NASDAQ AMD traded down $4.53 during trading on Thursday, reaching $144.07. 44,287,756 shares of the company’s stock traded hands, compared to its average volume of 56,800,914. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.82 and a quick ratio of 2.01. The firm has a market cap of $232.86 billion, a price-to-earnings ratio of 212.60, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The company’s 50 day simple moving average is $155.17 and its two-hundred day simple moving average is $156.03. Advanced Micro Devices has a 12-month low of $94.07 and a 12-month high of $227.30.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. KeyCorp decreased their price objective on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. TD Cowen reduced their price objective on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (down from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Wednesday. Finally, Roth Mkm restated a “buy” rating and set a $200.00 target price on shares of Advanced Micro Devices in a research report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

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.