Cantor Fitzgerald Issues Positive Outlook for AMD Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Investment analysts at Cantor Fitzgerald boosted their FY2024 earnings estimates for shares of Advanced Micro Devices in a report released on Wednesday, October 30th. Cantor Fitzgerald analyst C. Muse now expects that the semiconductor manufacturer will post earnings of $2.59 per share for the year, up from their previous forecast of $2.50. Cantor Fitzgerald has a “Overweight” rating and a $180.00 price objective on the stock. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.56 per share.

Several other equities analysts have also recently commented on AMD. Barclays dropped their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday. Morgan Stanley dropped their target price on shares of Advanced Micro Devices from $178.00 to $169.00 and set an “equal weight” rating for the company in a research report on Wednesday. Evercore ISI boosted their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the company an “outperform” rating in a research report on Wednesday. Wedbush restated an “outperform” rating and issued a $200.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, July 31st. Finally, UBS Group lowered their price objective on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday. One equities 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 stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Price Performance

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

Advanced Micro Devices (NASDAQ:AMD) last issued its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share for the quarter, hitting the consensus estimate of $0.92. The business had revenue of $6.82 billion during the quarter, compared to analysts’ expectations 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 company earned $0.53 EPS.

Institutional Investors Weigh In On Advanced Micro Devices

Institutional investors have recently modified their holdings of the company. Semmax Financial Advisors Inc. boosted its stake in shares of Advanced Micro Devices by 926.7% in the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 139 shares during the last quarter. Creative Capital Management Investments LLC lifted its position in shares of Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 86 shares during the period. ZRC Wealth Management LLC lifted its position in shares of Advanced Micro Devices by 90.4% during 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 during the period. Fairway Wealth LLC acquired a new position in shares of Advanced Micro Devices during the 2nd quarter valued at $27,000. Finally, Morton Brown Family Wealth LLC lifted its position in shares of Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 85 shares during the period. 71.34% of the stock is owned by institutional investors.

About Advanced Micro Devices

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.