Roth Capital Has Strong Estimate for AMD FY2024 Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Analysts at Roth Capital boosted their FY2024 EPS estimates for shares of Advanced Micro Devices in a research note issued to investors on Wednesday, October 30th. Roth Capital analyst S. Desilva now expects that the semiconductor manufacturer will post earnings of $2.55 per share for the year, up from their prior forecast of $2.45. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.55 per share. Roth Capital also issued estimates for Advanced Micro Devices’ Q4 2024 earnings at $0.89 EPS, Q1 2025 earnings at $0.81 EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $1.07 EPS and FY2025 earnings at $3.66 EPS.

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.

A number of other research analysts have also commented on the stock. Barclays cut their price objective 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, October 30th. KeyCorp cut their price objective on shares of Advanced Micro Devices from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, July 9th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective (down previously from $200.00) on shares of Advanced Micro Devices in a research report on Wednesday, October 30th. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. Finally, Truist Financial dropped their price target on shares of Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. One 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Stock Down 0.8 %

Shares of AMD opened at $140.71 on Monday. The company has a 50-day simple moving average of $154.57 and a 200-day simple moving average of $155.67. The firm has a market capitalization of $228.35 billion, a P/E ratio of 126.77, a P/E/G ratio of 1.98 and a beta of 1.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.01 and a current ratio of 2.50. Advanced Micro Devices has a 52 week low of $110.22 and a 52 week high of $227.30.

Institutional Trading of Advanced Micro Devices

Hedge funds have recently modified their holdings of the stock. Semmax Financial Advisors Inc. grew its stake in shares of 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 purchasing an additional 139 shares during the last quarter. Creative Capital Management Investments LLC grew its stake in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 86 shares during the last quarter. ZRC Wealth Management LLC grew its stake in shares of Advanced Micro Devices by 90.4% during the third quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 75 shares during the last quarter. Fairway Wealth LLC bought a new stake in shares of Advanced Micro Devices during the second quarter valued at approximately $27,000. Finally, Morton Brown Family Wealth LLC grew its stake in shares of Advanced Micro Devices by 94.4% during the second quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the last quarter. 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.