Wedbush Expects Reduced Earnings for Advanced Micro Devices

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Analysts at Wedbush decreased their FY2024 earnings estimates for Advanced Micro Devices in a research note issued to investors on Wednesday, October 30th. Wedbush analyst M. Bryson now forecasts that the semiconductor manufacturer will earn $2.53 per share for the year, down from their previous estimate of $2.59. Wedbush has a “Outperform” rating and a $200.00 price objective on the stock. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.55 per share. Wedbush also issued estimates for Advanced Micro Devices’ Q4 2024 earnings at $0.88 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $1.03 EPS, Q3 2025 earnings at $1.36 EPS, Q4 2025 earnings at $1.55 EPS and FY2025 earnings at $4.78 EPS.

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

Other analysts also recently issued reports about the stock. Evercore ISI raised their target price on shares of Advanced Micro Devices from $193.00 to $198.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Rosenblatt Securities restated a “buy” rating and set a $250.00 price objective on shares of Advanced Micro Devices in a report on Monday, October 28th. Morgan Stanley reduced their target price 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. 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. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 price objective on shares of Advanced Micro Devices in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Advanced Micro Devices currently has a consensus rating of “Moderate Buy” and an average target price of $192.79.

Advanced Micro Devices Trading Down 1.5 %

NASDAQ AMD opened at $141.86 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.50 and a quick ratio of 2.01. The stock’s 50-day moving average is $154.75 and its 200-day moving average is $155.77. Advanced Micro Devices has a one year low of $105.91 and a one year high of $227.30. The firm has a market cap of $230.21 billion, a P/E ratio of 127.80, a P/E/G ratio of 1.98 and a beta of 1.71.

Institutional Investors Weigh In On Advanced Micro Devices

A number of large investors have recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Advanced Micro Devices by 59.9% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 309,561 shares of the semiconductor manufacturer’s stock valued at $50,214,000 after purchasing an additional 116,020 shares during the period. Wesbanco Bank Inc. raised its holdings in Advanced Micro Devices by 15.7% in the 3rd quarter. Wesbanco Bank Inc. now owns 155,558 shares of the semiconductor manufacturer’s stock valued at $25,524,000 after acquiring an additional 21,132 shares during the period. St. Louis Financial Planners Asset Management LLC acquired a new stake in Advanced Micro Devices during the third quarter worth approximately $2,394,000. Sycomore Asset Management boosted its holdings in shares of Advanced Micro Devices by 28.6% during the second quarter. Sycomore Asset Management now owns 137,883 shares of the semiconductor manufacturer’s stock worth $21,722,000 after acquiring an additional 30,677 shares during the period. Finally, Custom Index Systems LLC acquired a new position in shares of Advanced Micro Devices in the third quarter valued at approximately $559,000. Institutional investors 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.