Roth Capital Brokers Reduce Earnings Estimates for Advanced Micro Devices, Inc. (NASDAQ:AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Equities researchers at Roth Capital cut their Q2 2024 earnings per share (EPS) estimates for Advanced Micro Devices in a report issued on Tuesday, April 30th. Roth Capital analyst S. Desilva now forecasts that the semiconductor manufacturer will post earnings per share of $0.46 for the quarter, down from their previous forecast of $0.51. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.64 per share. Roth Capital also issued estimates for Advanced Micro Devices’ Q3 2024 earnings at $0.69 EPS, Q4 2024 earnings at $0.82 EPS, FY2024 earnings at $2.39 EPS, Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.79 EPS, Q3 2025 earnings at $0.91 EPS and Q4 2025 earnings at $1.04 EPS.

Other research analysts have also recently issued reports about the company. Barclays raised their target price on Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. StockNews.com cut Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Thursday, April 25th. The Goldman Sachs Group lifted their price objective on Advanced Micro Devices from $157.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Citigroup lowered their price objective on Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices currently has an average rating of “Moderate Buy” and an average target price of $184.24.

Advanced Micro Devices Trading Up 3.0 %

Shares of NASDAQ:AMD opened at $150.60 on Friday. The stock has a market capitalization of $243.39 billion, a price-to-earnings ratio of 221.47, a PEG ratio of 2.19 and a beta of 1.66. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.86 and a current ratio of 2.64. The stock’s 50-day simple moving average is $175.93 and its two-hundred day simple moving average is $151.50. Advanced Micro Devices has a 52-week low of $81.11 and a 52-week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. The business had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.48 billion. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share.

Hedge Funds Weigh In On Advanced Micro Devices

A number of large investors have recently bought and sold shares of AMD. Addison Advisors LLC lifted its holdings in shares of Advanced Micro Devices by 41.9% in the 4th quarter. Addison Advisors LLC now owns 210 shares of the semiconductor manufacturer’s stock worth $31,000 after buying an additional 62 shares during the period. Prentice Wealth Management LLC lifted its holdings in shares of Advanced Micro Devices by 1.6% in the 1st quarter. Prentice Wealth Management LLC now owns 3,938 shares of the semiconductor manufacturer’s stock worth $711,000 after buying an additional 62 shares during the period. Revolve Wealth Partners LLC lifted its holdings in shares of Advanced Micro Devices by 0.9% in the 1st quarter. Revolve Wealth Partners LLC now owns 7,281 shares of the semiconductor manufacturer’s stock worth $1,314,000 after buying an additional 63 shares during the period. Schear Investment Advisers LLC raised its position in shares of Advanced Micro Devices by 0.4% in the 4th quarter. Schear Investment Advisers LLC now owns 15,762 shares of the semiconductor manufacturer’s stock worth $2,323,000 after acquiring an additional 64 shares in the last quarter. Finally, Fiduciary Group LLC raised its position in shares of Advanced Micro Devices by 2.7% in the 4th quarter. Fiduciary Group LLC now owns 2,516 shares of the semiconductor manufacturer’s stock worth $371,000 after acquiring an additional 65 shares in the last quarter. Hedge funds and other institutional investors own 71.34% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the completion of the transaction, the chief executive officer now owns 3,222,230 shares in the company, valued at approximately $628,753,739.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the completion of the transaction, the chief executive officer now owns 3,222,230 shares in the company, valued at approximately $628,753,739.90. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $164.25, for a total value of $2,660,850.00. Following the transaction, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The disclosure for this sale can be found here. Insiders have sold a total of 181,850 shares of company stock valued at $34,637,833 in the last quarter. 0.73% of the stock is currently 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.