Equities Analysts Set Expectations for AMD FY2024 Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Stock analysts at Zacks Research lifted their FY2024 earnings per share estimates for shares of Advanced Micro Devices in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the semiconductor manufacturer will post earnings of $2.47 per share for the year, up from their previous estimate of $2.37. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.53 per share. Zacks Research also issued estimates for Advanced Micro Devices’ Q4 2024 earnings at $0.81 EPS, Q1 2025 earnings at $0.72 EPS, Q3 2025 earnings at $1.00 EPS, FY2025 earnings at $3.63 EPS, Q1 2026 earnings at $1.04 EPS, Q3 2026 earnings at $1.21 EPS and FY2026 earnings at $4.63 EPS.

AMD has been the subject of a number of other research reports. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a research report on Wednesday, July 31st. TD Cowen cut their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Benchmark reiterated a “buy” rating and set a $200.00 price target on shares of Advanced Micro Devices in a research report on Thursday, October 31st. Morgan Stanley dropped their price target on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $192.79.

Advanced Micro Devices Stock Down 0.3 %

NASDAQ:AMD opened at $137.21 on Friday. The company has a market cap of $222.67 billion, a price-to-earnings ratio of 123.61, a P/E/G ratio of 1.93 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.78 and a current ratio of 2.50. The stock’s fifty day moving average price is $153.95 and its two-hundred day moving average price is $154.70. Advanced Micro Devices has a 52-week low of $116.37 and a 52-week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.92. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. Advanced Micro Devices’s quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.53 earnings per share.

Hedge Funds Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Semmax Financial Advisors Inc. grew its position in Advanced Micro Devices by 926.7% during the first quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 139 shares during the last quarter. Creative Capital Management Investments LLC grew its holdings in Advanced Micro Devices by 124.6% in the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 86 shares during the period. ZRC Wealth Management LLC lifted its position in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares in the last quarter. Fairway Wealth LLC purchased a new position in shares of Advanced Micro Devices in the second quarter worth $27,000. Finally, Morton Brown Family Wealth LLC raised its position in Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock worth $27,000 after buying an additional 85 shares during the last quarter. 71.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Advanced Micro Devices

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $143.87, for a total value of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares in the company, valued at approximately $513,150,048.94. The trade was a 2.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $141.67, for a total transaction of $5,743,301.80. Following the sale, the executive vice president now owns 293,347 shares of the company’s stock, valued at approximately $41,558,469.49. This trade represents a 12.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.73% of the stock is owned by insiders.

Advanced Micro Devices Company Profile

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.