FY2024 EPS Estimates for AMD Increased by Cantor Fitzgerald

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Equities researchers at Cantor Fitzgerald raised their FY2024 earnings estimates for 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 per share of $2.59 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.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The firm’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 EPS.

AMD has been the subject of a number of other research reports. UBS Group lowered their price objective on Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday. Robert W. Baird dropped their price target on shares of Advanced Micro Devices from $200.00 to $175.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price target on shares of Advanced Micro Devices in a report on Monday, October 28th. Barclays decreased 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 report on Wednesday. Finally, Wells Fargo & Company upped their target price on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Advanced Micro Devices has an average rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Stock Down 1.5 %

Shares of NASDAQ AMD opened at $141.86 on Friday. 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 1 year low of $105.91 and a 1 year high of $227.30. The stock’s 50-day simple moving average is $154.75 and its 200-day simple moving average is $155.76. The firm has a market cap of $229.60 billion, a price-to-earnings ratio of 127.80, a PEG ratio of 2.03 and a beta of 1.70.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its holdings in Advanced Micro Devices by 17,137.3% in the third quarter. International Assets Investment Management LLC now owns 7,860,909 shares of the semiconductor manufacturer’s stock worth $1,289,818,000 after purchasing an additional 7,815,305 shares during the period. Van ECK Associates Corp increased its stake in shares of Advanced Micro Devices by 52.6% during the second quarter. Van ECK Associates Corp now owns 8,645,658 shares of the semiconductor manufacturer’s stock valued at $1,402,412,000 after acquiring an additional 2,979,204 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of Advanced Micro Devices by 42.2% during the third quarter. Assenagon Asset Management S.A. now owns 8,420,766 shares of the semiconductor manufacturer’s stock valued at $1,381,679,000 after acquiring an additional 2,497,056 shares during the period. Vanguard Group Inc. raised its holdings in Advanced Micro Devices by 1.6% during the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock worth $26,133,989,000 after purchasing an additional 2,349,288 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Advanced Micro Devices in the second quarter worth approximately $296,178,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

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.