Advanced Micro Devices, Inc. (NASDAQ:AMD) Forecasted to Post Q2 2024 Earnings of $0.44 Per Share

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Equities researchers at Northland Capmk upped their Q2 2024 earnings per share (EPS) estimates for shares of Advanced Micro Devices in a research note issued to investors on Wednesday, May 1st. Northland Capmk analyst G. Richard now forecasts that the semiconductor manufacturer will post earnings of $0.44 per share for the quarter, up from their previous forecast of $0.43. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.63 per share. Northland Capmk also issued estimates for Advanced Micro Devices’ Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.82 EPS and FY2025 earnings at $4.21 EPS.

A number of other brokerages have also recently weighed in on AMD. Susquehanna dropped their price target on shares of Advanced Micro Devices from $200.00 to $185.00 and set a “positive” rating for the company in a research report on Monday, April 29th. Barclays upped their price target on Advanced Micro Devices from $200.00 to $235.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th. Wells Fargo & Company lifted their price objective on Advanced Micro Devices from $165.00 to $190.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Advanced Micro Devices in a research note on Wednesday, May 1st. Finally, StockNews.com downgraded Advanced Micro Devices from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $183.94.

Advanced Micro Devices Stock Down 0.9 %

Shares of NASDAQ:AMD opened at $154.43 on Monday. The business has a 50-day moving average price of $174.53 and a 200 day moving average price of $153.23. Advanced Micro Devices has a 12-month low of $89.17 and a 12-month high of $227.30. The company has a current ratio of 2.64, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $249.61 billion, a price-to-earnings ratio of 227.11, a PEG ratio of 2.33 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The company had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.48 billion. Advanced Micro Devices had a net margin of 4.89% and a return on equity of 5.72%. Advanced Micro Devices’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.43 EPS.

Insider Buying and Selling at Advanced Micro Devices

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $177.57, for a total transaction of $2,876,634.00. Following the transaction, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at $276,050,677.14. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Mark D. Papermaster sold 16,200 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $177.57, for a total value of $2,876,634.00. Following the completion of the sale, the executive vice president now directly owns 1,554,602 shares of the company’s stock, valued at $276,050,677.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Darla M. Smith sold 1,678 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The disclosure for this sale can be found here. Insiders sold 181,850 shares of company stock worth $34,637,833 over the last 90 days. Corporate insiders own 0.65% of the company’s stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several large investors have recently modified their holdings of the stock. New Republic Capital LLC boosted its holdings in Advanced Micro Devices by 5.7% in the 1st quarter. New Republic Capital LLC now owns 3,731 shares of the semiconductor manufacturer’s stock valued at $673,000 after purchasing an additional 201 shares in the last quarter. Williams Jones Wealth Management LLC. lifted its holdings in shares of Advanced Micro Devices by 92.1% in the 1st quarter. Williams Jones Wealth Management LLC. now owns 27,980 shares of the semiconductor manufacturer’s stock valued at $5,050,000 after buying an additional 13,413 shares during the period. Thoroughbred Financial Services LLC boosted its stake in shares of Advanced Micro Devices by 7.9% in the first quarter. Thoroughbred Financial Services LLC now owns 20,584 shares of the semiconductor manufacturer’s stock valued at $3,715,000 after buying an additional 1,499 shares in the last quarter. Verus Capital Partners LLC grew its holdings in Advanced Micro Devices by 0.8% during the first quarter. Verus Capital Partners LLC now owns 348,989 shares of the semiconductor manufacturer’s stock worth $62,989,000 after acquiring an additional 2,901 shares during the period. Finally, Meeder Advisory Services Inc. raised its position in Advanced Micro Devices by 5.9% in the first quarter. Meeder Advisory Services Inc. now owns 21,070 shares of the semiconductor manufacturer’s stock worth $3,803,000 after acquiring an additional 1,170 shares in the last quarter. Hedge funds and other institutional investors 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.