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

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

Advanced Micro Devices Trading Down 3.0 %

Shares of NASDAQ AMD traded down $4.53 during midday trading on Thursday, hitting $144.07. 44,287,756 shares of the company traded hands, compared to its average volume of 56,800,914. Advanced Micro Devices has a 12-month low of $94.07 and a 12-month 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 stock has a 50-day moving average price of $155.17 and a 200 day moving average price of $156.03. The firm has a market cap of $232.86 billion, a P/E ratio of 212.60, a P/E/G ratio of 2.33 and a beta of 1.70.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Evercore ISI upped their price objective on Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $180.00 target price (down from $200.00) on shares of Advanced Micro Devices in a report on Wednesday. Robert W. Baird decreased their target price on Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Truist Financial cut their price target on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. Finally, TD Cowen cut their target price on Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus price target 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.