But even despite the strong quarter, premarket trading on Monday lead a bit of a stumble to the company's shares. The company also reported an 18% revenue increase due to Ryzen and GPU sales. Analysts expected the company to earn 34 cents a share on sales of $175.04 million.
Vega and Naples are still set to launch during the second quarter, and they should drive growth during the second half. "Additionally, increasing competition from the likes of NVDIA remains a concern".
The results were in-line with analysts' estimates.
As such, the analyst reiterates a Neutral rating on Advanced Micro Devices shares, with a price target of $12, which implies an upside of 8% from current levels.
Advanced Micro Devices, Inc.is a global semiconductor company that develops computer processors and related technologies for business and consumer markets. Analysts have a mean recommendation of 2.60 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range). The stock is now trading -0.23% below its SMA 50 and 40.69% above its SMA 200. (NASDAQ:AMD) shares ticked up 2.41% to $13.62 on Monday. The Company has 52-week high of $15.55 and 52-week low of $3.45. The firm's market cap is $9.75 billion.
For the upcoming quarter, initial predictions are anticipating that the company will post earnings of $-0.01 per share according to consensus of 21 analysts. The sell-side analysts are projecting earnings per share of $0.0700 for the next fiscal quarter. It has been assigned a low target price of $4 and a high target price of $17. (NASDAQ:AMD) stock may see increased volatility following the report. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks! Over the trailing year, the stock is outperforming the S&P 500 by 268.11, and it's gotten there by action that has been more volatile on a day-to-day basis than most other stocks on the exchange. A simple moving average (SMA) is an arithmetic moving average calculated by adding the closing price of the security for a number of time periods and then dividing this total by the number of time periods. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. AMD is also a popular stock among Robinhood's other users, ranking fifth behind Apple, Amazon, Tesla, and Facebook. The disclosure for this sale can be found here.
The stock's price switched up -22.49% 20-Days Simple Moving Average, dropped -24.48% from 50-Days Simple Moving Average and rose 6.14% from 200 Days Simple Moving Average.
Hedge funds have recently modified their holdings of the company. Dubuque Bank & Trust Co. purchased a new position in shares of Advanced Micro Devices during the first quarter worth approximately $157,000. For AMD, the company now has $1.27 Billion of cash on the books.