Roth Capital Brokers Reduce Earnings Estimates for Advanced Micro Devices, Inc. (NASDAQ:AMD)
Advanced Micro Devices, Inc. (NASDAQ:AMD – Free Report) – Stock analysts at Roth Capital cut their Q2 2024 earnings per share estimates for Advanced Micro Devices in a report released on Tuesday, April 30th. Roth Capital analyst S. Desilva now forecasts that the semiconductor manufacturer will post earnings of $0.46 per share for the quarter, down from their prior estimate 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 issued reports about the company. KeyCorp decreased their target price on Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating for the company in a report on Wednesday. Roth Mkm decreased their target price on Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating for the company in a report on Wednesday. UBS Group decreased their target price on Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday. Wells Fargo & Company lifted their target price on Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $175.00 target price (down from $195.00) on shares of Advanced Micro Devices in a report on Wednesday. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.24.
Check Out Our Latest Stock Report on Advanced Micro Devices
Advanced Micro Devices Trading Up 3.0 %
NASDAQ:AMD opened at $150.60 on Friday. The firm has a market cap of $243.39 billion, a PE ratio of 221.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.66. The stock has a fifty day moving average price of $175.93 and a 200 day moving average price of $151.50. Advanced Micro Devices has a 12-month low of $81.11 and a 12-month high of $227.30. The company has a current ratio of 2.64, a quick ratio of 1.86 and a debt-to-equity ratio of 0.03.
Advanced Micro Devices (NASDAQ:AMD – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Advanced Micro Devices had a return on equity of 5.72% and a net margin of 4.89%. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.48 billion. During the same period in the previous year, the firm posted $0.43 earnings per share. The company’s revenue was up 2.2% on a year-over-year basis.
Insider Activity at Advanced Micro Devices
In related news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $177.57, for a total value of $2,876,634.00. Following the transaction, the executive vice president now owns 1,554,602 shares in the company, valued at approximately $276,050,677.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total value of $316,571.48. Following the transaction, the chief accounting officer now owns 4,209 shares in the company, valued at approximately $794,069.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $177.57, for a total value of $2,876,634.00. Following the transaction, the executive vice president now owns 1,554,602 shares in the company, valued at approximately $276,050,677.14. The disclosure for this sale can be found here. Insiders have sold 181,850 shares of company stock worth $34,637,833 in the last quarter. Company insiders own 0.73% of the company’s stock.
Hedge Funds Weigh In On Advanced Micro Devices
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Advanced Micro Devices by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock worth $20,997,873,000 after purchasing an additional 2,390,558 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Advanced Micro Devices by 2.2% during the 4th quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock worth $4,181,849,000 after acquiring an additional 600,638 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Advanced Micro Devices by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock worth $4,079,674,000 after acquiring an additional 2,553,392 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of Advanced Micro Devices by 5.9% during the 4th quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock worth $3,963,307,000 after acquiring an additional 1,490,997 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Advanced Micro Devices during the 4th quarter worth approximately $3,426,529,000. Institutional investors and hedge funds own 71.34% of the company’s stock.
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.
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