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

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

Advanced Micro Devices Price Performance

Shares of Advanced Micro Devices stock traded down $15.85 during midday trading on Wednesday, reaching $150.40. The company had a trading volume of 41,621,684 shares, compared to its average volume of 56,641,477. The company has a current ratio of 2.82, a quick ratio of 2.01 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $243.09 billion, a price-to-earnings ratio of 222.07, a price-to-earnings-growth ratio of 2.33 and a beta of 1.70. The stock has a fifty day simple moving average of $155.35 and a 200 day simple moving average of $156.08. Advanced Micro Devices has a 1-year low of $94.07 and a 1-year high of $227.30.

Analyst Ratings Changes

Several research firms have recently commented on AMD. KeyCorp lowered their target price on Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, July 9th. Susquehanna reaffirmed a “positive” rating and set a $200.00 target price on shares of Advanced Micro Devices in a report on Wednesday, July 31st. Roth Mkm reissued a “buy” rating and issued a $200.00 price objective on shares of Advanced Micro Devices in a report on Friday, October 11th. Truist Financial decreased their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $180.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices has a consensus rating of “Moderate Buy” and an average price target of $193.83.

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.