Northland Capmk Has Bullish Forecast for AMD FY2024 Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Research analysts at Northland Capmk increased their FY2024 EPS estimates for Advanced Micro Devices in a report released on Wednesday, October 30th. Northland Capmk analyst G. Richard now expects that the semiconductor manufacturer will post earnings of $2.51 per share for the year, up from their previous estimate of $2.46. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.55 per share. Northland Capmk also issued estimates for Advanced Micro Devices’ Q4 2024 earnings at $0.84 EPS, Q1 2025 earnings at $0.72 EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $1.32 EPS and FY2025 earnings at $4.06 EPS.

Several other research firms also recently weighed in on AMD. Piper Sandler reiterated an “overweight” rating and issued a $180.00 target price (down previously from $200.00) on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. UBS Group reduced their target price on shares of Advanced Micro Devices from $210.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Barclays reduced their target price on shares of Advanced Micro Devices from $180.00 to $170.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of Advanced Micro Devices from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, July 11th. Finally, TD Cowen reduced their target price on shares of Advanced Micro Devices from $210.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. One 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Advanced Micro Devices Price Performance

AMD opened at $140.71 on Monday. The company has a market capitalization of $228.35 billion, a price-to-earnings ratio of 126.77, a PEG ratio of 1.98 and a beta of 1.71. The company has a quick ratio of 2.01, a current ratio of 2.50 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $154.57 and a 200-day moving average price of $155.67. Advanced Micro Devices has a twelve month low of $110.22 and a twelve month high of $227.30.

Advanced Micro Devices (NASDAQ:AMD) last announced 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. The business had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.71 billion. Advanced Micro Devices had a net margin of 7.52% and a return on equity of 6.62%. The company’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.53 earnings per share.

Institutional Investors Weigh In On Advanced Micro Devices

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Semmax Financial Advisors Inc. raised its holdings in Advanced Micro Devices by 926.7% during the 1st quarter. Semmax Financial Advisors Inc. now owns 154 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 139 shares during the last quarter. Creative Capital Management Investments LLC raised its holdings in Advanced Micro Devices by 124.6% during the 3rd quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 86 shares during the last quarter. ZRC Wealth Management LLC raised its holdings in Advanced Micro Devices by 90.4% during the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 75 shares during the last quarter. Fairway Wealth LLC bought a new stake in Advanced Micro Devices during the 2nd quarter valued at $27,000. Finally, Morton Brown Family Wealth LLC raised its holdings in Advanced Micro Devices by 94.4% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 85 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors.

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.