Cantor Fitzgerald Issues Positive Outlook for AMD Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Investment analysts at Cantor Fitzgerald raised their FY2024 EPS estimates for Advanced Micro Devices in a research note issued to investors on Wednesday, October 30th. Cantor Fitzgerald analyst C. Muse now forecasts that the semiconductor manufacturer will earn $2.59 per share for the year, up from their prior estimate of $2.50. Cantor Fitzgerald has a “Overweight” rating and a $180.00 price target on the stock. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.56 per share.

Other analysts have also recently issued reports about the stock. Susquehanna reaffirmed a “positive” rating and set a $200.00 price objective on shares of Advanced Micro Devices in a research note on Wednesday, July 31st. Truist Financial decreased their price objective on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley decreased their price target on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Rosenblatt Securities reissued a “buy” rating and set a $250.00 price target on shares of Advanced Micro Devices in a research note on Monday, October 28th. Finally, Bank of America reissued a “buy” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

NASDAQ:AMD opened at $141.86 on Friday. Advanced Micro Devices has a 12-month low of $105.91 and a 12-month high of $227.30. The company has a quick ratio of 2.01, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $229.60 billion, a PE ratio of 127.80, a price-to-earnings-growth ratio of 2.03 and a beta of 1.70. The firm has a 50-day moving average price of $154.75 and a 200 day moving average price of $155.81.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.92. The firm had revenue of $6.82 billion during 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 business’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.53 EPS.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Advanced Micro Devices by 59.9% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock worth $50,214,000 after buying an additional 116,020 shares during the period. Wesbanco Bank Inc. boosted its holdings in shares of Advanced Micro Devices by 15.7% during the 3rd quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer’s stock worth $25,524,000 after buying an additional 21,132 shares during the period. St. Louis Financial Planners Asset Management LLC bought a new stake in shares of Advanced Micro Devices during the 3rd quarter worth about $2,394,000. Sycomore Asset Management boosted its holdings in shares of Advanced Micro Devices by 28.6% during the 2nd quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock worth $21,722,000 after buying an additional 30,677 shares during the period. Finally, Custom Index Systems LLC bought a new stake in shares of Advanced Micro Devices during the 3rd quarter worth about $559,000. Institutional investors own 71.34% of the company’s stock.

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.