Research Analysts Issue Forecasts for AMD FY2024 Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Research analysts at Zacks Research increased their FY2024 earnings estimates for Advanced Micro Devices in a research note issued on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the semiconductor manufacturer will earn $2.47 per share for the year, up from their previous forecast 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.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The business 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%. The company’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.

Other analysts have also issued research reports about the stock. Evercore ISI raised their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Bank of America restated a “buy” rating and set a $180.00 target price on shares of Advanced Micro Devices in a research report on Thursday, October 3rd. Robert W. Baird decreased their target price on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Citigroup decreased their target price on shares of Advanced Micro Devices from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Piper Sandler restated an “overweight” rating and set a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Stock Up 0.6 %

AMD stock opened at $138.35 on Friday. The company’s 50 day simple moving average is $153.67 and its 200-day simple moving average is $154.58. The firm has a market capitalization of $224.52 billion, a PE ratio of 124.64, a P/E/G ratio of 1.93 and a beta of 1.71. Advanced Micro Devices has a 12 month low of $116.37 and a 12 month high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 1.78.

Insider Activity

In other Advanced Micro Devices news, CEO Lisa T. Su sold 80,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total transaction of $11,509,600.00. Following the completion of the transaction, the chief executive officer now directly owns 3,566,762 shares of the company’s stock, valued at $513,150,048.94. The trade was a 2.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Forrest Eugene Norrod sold 40,540 shares of the business’s stock in a transaction dated 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 in the company, valued at $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. Company insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in AMD. Cherrydale Wealth Management LLC grew its stake in shares of Advanced Micro Devices by 4.7% during the 2nd quarter. Cherrydale Wealth Management LLC now owns 1,305 shares of the semiconductor manufacturer’s stock worth $212,000 after acquiring an additional 58 shares in the last quarter. Christopher J. Hasenberg Inc grew its stake in shares of Advanced Micro Devices by 12.0% during the 3rd quarter. Christopher J. Hasenberg Inc now owns 560 shares of the semiconductor manufacturer’s stock worth $97,000 after acquiring an additional 60 shares in the last quarter. Delta Financial Group Inc. grew its stake in shares of Advanced Micro Devices by 5.0% during the 2nd quarter. Delta Financial Group Inc. now owns 1,325 shares of the semiconductor manufacturer’s stock worth $215,000 after acquiring an additional 63 shares in the last quarter. Trivant Custom Portfolio Group LLC grew its stake in shares of Advanced Micro Devices by 0.3% during the 2nd quarter. Trivant Custom Portfolio Group LLC now owns 24,629 shares of the semiconductor manufacturer’s stock worth $3,995,000 after acquiring an additional 65 shares in the last quarter. Finally, Wealth Effects LLC grew its stake in shares of Advanced Micro Devices by 0.7% in the third quarter. Wealth Effects LLC now owns 9,419 shares of the semiconductor manufacturer’s stock valued at $1,545,000 after buying an additional 65 shares in the last quarter. 71.34% of the stock is currently owned by institutional investors.

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.