Roth Capital Has Optimistic View of AMD FY2024 Earnings

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Investment analysts at Roth Capital lifted their FY2024 earnings estimates for shares of Advanced Micro Devices in a research note issued on Wednesday, October 30th. Roth Capital analyst S. Desilva now forecasts that the semiconductor manufacturer will earn $2.55 per share for the year, up from their previous estimate of $2.45. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.53 per share. Roth Capital also issued estimates for Advanced Micro Devices’ Q4 2024 earnings at $0.89 EPS, Q1 2025 earnings at $0.81 EPS, Q2 2025 earnings at $0.83 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $1.07 EPS and FY2025 earnings at $3.66 EPS.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, October 29th. The semiconductor manufacturer reported $0.92 EPS for the quarter, meeting the consensus estimate of $0.92. The business had revenue of $6.82 billion during 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 quarterly revenue was up 17.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share.

Other equities analysts have also issued reports about the stock. StockNews.com lowered shares of Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. BNP Paribas upgraded Advanced Micro Devices to a “strong-buy” rating in a research note on Wednesday, July 31st. Cantor Fitzgerald reiterated an “overweight” rating and set a $180.00 price target on shares of Advanced Micro Devices in a research note on Wednesday, October 30th. Truist Financial reduced their price objective on Advanced Micro Devices from $162.00 to $156.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, TD Cowen decreased their price objective 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 issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Advanced Micro Devices has an average rating of “Moderate Buy” and a consensus price target of $192.79.

Advanced Micro Devices Stock Performance

Shares of AMD opened at $141.66 on Monday. Advanced Micro Devices has a 12 month low of $110.22 and a 12 month high of $227.30. The stock has a fifty day moving average price of $154.39 and a 200-day moving average price of $155.64. 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 has a market cap of $229.89 billion, a PE ratio of 127.62, a P/E/G ratio of 1.96 and a beta of 1.71.

Institutional Trading of Advanced Micro Devices

Several hedge funds have recently added to or reduced their stakes in AMD. Semmax Financial Advisors Inc. boosted its holdings in shares of Advanced Micro Devices by 926.7% in 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 in the last quarter. Creative Capital Management Investments LLC boosted its stake in shares of Advanced Micro Devices by 124.6% during the third quarter. Creative Capital Management Investments LLC now owns 155 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 86 shares during the period. ZRC Wealth Management LLC increased its position in Advanced Micro Devices by 90.4% in the 3rd quarter. ZRC Wealth Management LLC now owns 158 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 75 shares during the period. Fairway Wealth LLC acquired a new stake in Advanced Micro Devices during the 2nd quarter worth approximately $27,000. Finally, Morton Brown Family Wealth LLC grew its stake in shares of Advanced Micro Devices by 94.4% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 175 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 85 shares during the last quarter. 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.