Advanced Micro Devices, Inc. (NASDAQ:AMD) – Investment analysts at Jefferies Financial Group dropped their Q2 2019 earnings estimates for shares of Advanced Micro Devices in a report released on Wednesday, May 1st, Zacks Investment Research reports. Jefferies Financial Group analyst M. Lipacis now anticipates that the semiconductor manufacturer will earn $0.04 per share for the quarter, down from their prior forecast of $0.13. Jefferies Financial Group also issued estimates for Advanced Micro Devices’ FY2019 earnings at $0.51 EPS and FY2020 earnings at $1.17 EPS.
AMD has been the topic of a number of other reports. Wells Fargo & Co upped their target price on shares of Advanced Micro Devices from $30.00 to $38.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Zacks Investment Research downgraded shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. Craig Hallum reaffirmed a “buy” rating and issued a $33.00 target price (up from $27.00) on shares of Advanced Micro Devices in a research report on Wednesday, May 1st. MKM Partners upped their target price on shares of Advanced Micro Devices to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Finally, Barclays increased their price objective on shares of Advanced Micro Devices from $21.00 to $26.00 and gave the company an “equal weight” rating in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $28.92.
Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.06 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. The business had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. Advanced Micro Devices had a net margin of 4.46% and a return on equity of 25.23%. The company’s quarterly revenue was down 22.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 EPS.
Several large investors have recently modified their holdings of AMD. Standard Life Aberdeen plc lifted its stake in Advanced Micro Devices by 13.1% during the third quarter. Standard Life Aberdeen plc now owns 221,268 shares of the semiconductor manufacturer’s stock worth $6,835,000 after purchasing an additional 25,659 shares during the period. Legal & General Group Plc lifted its stake in Advanced Micro Devices by 1.5% during the third quarter. Legal & General Group Plc now owns 3,884,842 shares of the semiconductor manufacturer’s stock worth $120,002,000 after purchasing an additional 56,775 shares during the period. Marshall Wace LLP bought a new position in Advanced Micro Devices during the third quarter worth about $2,362,000. Marshall Wace North America L.P. lifted its stake in Advanced Micro Devices by 13.5% during the third quarter. Marshall Wace North America L.P. now owns 216,384 shares of the semiconductor manufacturer’s stock worth $6,684,000 after purchasing an additional 25,691 shares during the period. Finally, Retirement Systems of Alabama lifted its stake in Advanced Micro Devices by 5.4% during the fourth quarter. Retirement Systems of Alabama now owns 847,295 shares of the semiconductor manufacturer’s stock worth $15,641,000 after purchasing an additional 43,166 shares during the period. Hedge funds and other institutional investors own 60.85% of the company’s stock.
In other news, CEO Lisa T. Su sold 50,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $22.07, for a total value of $1,103,500.00. Following the transaction, the chief executive officer now owns 2,311,264 shares in the company, valued at approximately $51,009,596.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Devinder Kumar sold 115,664 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $27.95, for a total transaction of $3,232,808.80. Following the completion of the transaction, the chief financial officer now owns 697,919 shares in the company, valued at approximately $19,506,836.05. The disclosure for this sale can be found here. Insiders have sold a total of 581,664 shares of company stock worth $15,332,049 in the last 90 days. Company insiders own 1.50% of the company’s stock.
About Advanced Micro Devices
Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit (APU), chipsets, discrete and integrated graphics processing units (GPUs), and professional GPUs; and server and embedded processors, and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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