Advanced Micro Devices, Inc. (NASDAQ:AMD) announced its quarterly earnings data on Tuesday, July 25th. The semiconductor manufacturer reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.04, Bloomberg Earnings reports. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Advanced Micro Devices had a negative net margin of 11.82% and a negative return on equity of 24.34%. Advanced Micro Devices’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.05) EPS.
Shares of Advanced Micro Devices (AMD) traded down 0.91% during mid-day trading on Friday, reaching $13.12. 64,254,045 shares of the company’s stock traded hands. The company’s market capitalization is $12.40 billion. Advanced Micro Devices has a 1-year low of $5.66 and a 1-year high of $15.65. The firm has a 50-day moving average price of $13.36 and a 200-day moving average price of $12.73.
In related news, Director Mubadala Investment Co Pjsc sold 40,000,000 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $525,600,000.00, for a total transaction of $21,024,000,000,000,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James Robert Anderson sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $10.86, for a total value of $217,200.00. Following the sale, the senior vice president now directly owns 300,334 shares in the company, valued at approximately $3,261,627.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,589,751 shares of company stock worth $21,024,000,007,258,100. Corporate insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hartford Investment Management Co. increased its position in shares of Advanced Micro Devices by 2.3% in the second quarter. Hartford Investment Management Co. now owns 179,781 shares of the semiconductor manufacturer’s stock valued at $2,244,000 after buying an additional 4,036 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Advanced Micro Devices by 39.5% in the first quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the semiconductor manufacturer’s stock valued at $164,000 after buying an additional 3,200 shares during the last quarter. DnB Asset Management AS bought a new position in shares of Advanced Micro Devices during the first quarter valued at approximately $1,111,000. Gateway Investment Advisers LLC raised its position in Advanced Micro Devices by 179.6% in the first quarter. Gateway Investment Advisers LLC now owns 506,158 shares of the semiconductor manufacturer’s stock valued at $7,365,000 after buying an additional 325,108 shares during the period. Finally, Telemus Capital LLC acquired a new position in Advanced Micro Devices during the first quarter valued at $291,000. 57.28% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have commented on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $13.00 price objective on shares of Advanced Micro Devices in a research report on Friday, July 28th. BMO Capital Markets lowered shares of Advanced Micro Devices from an “outperform” rating to a “market perform” rating and set a $15.00 price objective on the stock. in a research report on Wednesday, July 26th. Citigroup Inc. reiterated a “sell” rating on shares of Advanced Micro Devices in a research report on Wednesday, July 26th. Robert W. Baird began coverage on shares of Advanced Micro Devices in a research report on Wednesday, July 26th. They issued an “outperform” rating and a $20.00 price objective on the stock. Finally, Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Advanced Micro Devices in a research report on Friday, July 28th. Five investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.18.
About Advanced Micro Devices
Advanced Micro Devices, Inc is a global semiconductor company. The Company is engaged in offering x86 microprocessors, as standalone devices or as incorporated into an accelerated processing unit (APU), chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors and semi-custom System-on-Chip (SoC) products and technology for game consoles.
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