Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) – Analysts at KeyCorp decreased their Q3 2023 earnings per share estimates for Advanced Micro Devices in a research report issued on Monday, July 10th. KeyCorp analyst J. Vinh now expects that the semiconductor manufacturer will earn $0.56 per share for the quarter, down from their prior forecast of $0.61. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.17 per share. KeyCorp also issued estimates for Advanced Micro Devices’ FY2023 earnings at $2.20 EPS.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last released its quarterly earnings results on Tuesday, May 2nd. The semiconductor manufacturer reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Advanced Micro Devices had a return on equity of 7.19% and a net margin of 1.71%. The company had revenue of $5.35 billion for the quarter, compared to analysts’ expectations of $5.31 billion. During the same period in the prior year, the firm earned $1.02 earnings per share. The firm’s revenue was down 9.1% compared to the same quarter last year.
Advanced Micro Devices Stock Up 2.9 %
NASDAQ:AMD opened at $114.58 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 2.38 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $112.40 and its two-hundred day moving average is $92.86. Advanced Micro Devices has a 52 week low of $54.57 and a 52 week high of $132.83. The stock has a market capitalization of $184.52 billion, a price-to-earnings ratio of 498.17, a price-to-earnings-growth ratio of 8.56 and a beta of 1.86.
Institutional Investors Weigh In On Advanced Micro Devices
Hedge funds have recently added to or reduced their stakes in the company. Duncker Streett & Co. Inc. acquired a new stake in Advanced Micro Devices in the fourth quarter valued at about $28,000. Eagle Bay Advisors LLC lifted its position in Advanced Micro Devices by 50.6% in the first quarter. Eagle Bay Advisors LLC now owns 679 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 228 shares during the period. Tucker Asset Management LLC acquired a new stake in Advanced Micro Devices in the first quarter valued at about $31,000. Western Pacific Wealth Management LP lifted its position in Advanced Micro Devices by 41.9% in the fourth quarter. Western Pacific Wealth Management LP now owns 545 shares of the semiconductor manufacturer’s stock valued at $35,000 after purchasing an additional 161 shares during the period. Finally, Grey Fox Wealth Advisors LLC acquired a new stake in Advanced Micro Devices in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 68.90% of the company’s stock.
Insider Transactions at Advanced Micro Devices
In other news, EVP Mark D. Papermaster sold 30,000 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $85.14, for a total transaction of $2,554,200.00. Following the completion of the sale, the executive vice president now owns 1,516,945 shares in the company, valued at $129,152,697.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Mark D. Papermaster sold 30,000 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $85.14, for a total transaction of $2,554,200.00. Following the completion of the sale, the executive vice president now owns 1,516,945 shares in the company, valued at $129,152,697.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Paul Darren Grasby sold 15,000 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $118.77, for a total transaction of $1,781,550.00. Following the sale, the executive vice president now owns 80,942 shares of the company’s stock, valued at approximately $9,613,481.34. The disclosure for this sale can be found here. Over the last quarter, insiders sold 281,174 shares of company stock worth $33,315,803. Company insiders own 0.73% of the company’s stock.
About Advanced Micro Devices
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. It operates in four segments: 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.
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