Zacks Research Has Optimistic Outlook of AMD FY2024 Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) - Analysts at Zacks Research increased their FY2024 earnings estimates for shares of Advanced Micro Devices in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst R. Department now anticipates 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.

A number of other research firms have also issued reports on AMD. Rosenblatt Securities restated a "buy" rating and issued a $250.00 price target on shares of Advanced Micro Devices in a research report on Monday, October 28th. 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 report on Wednesday, July 31st. Morgan Stanley lowered their price objective on shares of Advanced Micro Devices from $178.00 to $169.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 30th. Edward Jones began coverage on Advanced Micro Devices in a research note on Tuesday, August 20th. They issued a "buy" rating on the stock. Finally, Barclays cut their price target on Advanced Micro Devices from $180.00 to $170.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. 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 given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $192.79.

Advanced Micro Devices Price Performance

NASDAQ:AMD traded up $0.44 during trading hours on Friday, hitting $137.93. 17,113,660 shares of the stock were exchanged, compared to its average volume of 54,990,496. The company has a current ratio of 2.50, a quick ratio of 1.78 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average price is $153.95 and its 200 day moving average price is $154.70. The company has a market cap of $223.83 billion, a P/E ratio of 123.74, a P/E/G ratio of 1.93 and a beta of 1.71. Advanced Micro Devices has a 52-week low of $116.37 and a 52-week high of $227.30.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting analysts' consensus estimates 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 return on equity of 6.62% and a net margin of 7.52%. The business's revenue was up 17.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Anchor Investment Management LLC grew its position in shares of Advanced Micro Devices by 29.6% in the 3rd quarter. Anchor Investment Management LLC now owns 7,673 shares of the semiconductor manufacturer's stock worth $1,259,000 after acquiring an additional 1,754 shares in the last quarter. Westside Investment Management Inc. boosted its position in Advanced Micro Devices by 1.9% during the 3rd quarter. Westside Investment Management Inc. now owns 5,407 shares of the semiconductor manufacturer's stock worth $815,000 after acquiring an additional 103 shares during the period. Advisory Resource Group increased its stake in Advanced Micro Devices by 19.3% during the 3rd quarter. Advisory Resource Group now owns 7,920 shares of the semiconductor manufacturer's stock valued at $1,300,000 after buying an additional 1,282 shares during the period. M&T Bank Corp raised its holdings in Advanced Micro Devices by 6.0% during the third quarter. M&T Bank Corp now owns 116,889 shares of the semiconductor manufacturer's stock worth $19,179,000 after purchasing an additional 6,569 shares in the last quarter. Finally, Second Line Capital LLC lifted its holdings in shares of Advanced Micro Devices by 1,111.8% in the third quarter. Second Line Capital LLC now owns 17,838 shares of the semiconductor manufacturer's stock valued at $2,927,000 after buying an additional 16,366 shares during the period. 71.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Advanced Micro Devices

In related news, 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 value of $5,743,301.80. Following the transaction, the executive vice president now owns 293,347 shares in the company, valued at approximately $41,558,469.49. The trade was a 12.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lisa T. Su sold 80,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.87, for a total value of $11,509,600.00. Following the sale, the chief executive officer now owns 3,566,762 shares of the company's stock, valued at approximately $513,150,048.94. This trade represents a 2.19 % decrease in their position. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.

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.