Q3 2024 Earnings Estimate for Advanced Micro Devices, Inc. (NASDAQ:AMD) Issued By Roth Capital

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Roth Capital lifted their Q3 2024 EPS estimates for Advanced Micro Devices in a research report issued on Wednesday, July 31st. Roth Capital analyst S. Desilva now anticipates that the semiconductor manufacturer will earn $0.70 per share for the quarter, up from their previous forecast of $0.69. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.58 per share. Roth Capital also issued estimates for Advanced Micro Devices’ Q4 2024 earnings at $0.83 EPS, FY2024 earnings at $2.45 EPS and Q1 2025 earnings at $0.76 EPS.

Several other research firms have also recently issued reports on AMD. Evercore ISI decreased their target price on shares of Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Roth Mkm cut their price target on Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Wells Fargo & Company raised their price objective on Advanced Micro Devices from $190.00 to $205.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. TD Cowen upped their target price on Advanced Micro Devices from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, Mizuho cut their price target on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Advanced Micro Devices presently has an average rating of “Moderate Buy” and a consensus target price of $193.45.

Advanced Micro Devices Price Performance

NASDAQ:AMD opened at $130.18 on Monday. The firm’s fifty day moving average is $159.77 and its two-hundred day moving average is $167.67. The firm has a market cap of $210.69 billion, a price-to-earnings ratio of 194.62, a PEG ratio of 1.79 and a beta of 1.69. Advanced Micro Devices has a one year low of $93.11 and a one year high of $227.30. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.92 and a current ratio of 2.82.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Advanced Micro Devices had a return on equity of 5.98% and a net margin of 5.82%. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The company’s revenue was up 8.9% compared to the same quarter last year.

Insider Buying and Selling

In other news, EVP Mark D. Papermaster sold 16,756 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $184.50, for a total value of $3,091,482.00. Following the sale, the executive vice president now directly owns 1,546,227 shares in the company, valued at approximately $285,278,881.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mark D. Papermaster sold 16,200 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $158.94, for a total transaction of $2,574,828.00. Following the completion of the sale, the executive vice president now owns 1,546,227 shares in the company, valued at $245,757,319.38. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark D. Papermaster sold 16,756 shares of the stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $184.50, for a total transaction of $3,091,482.00. Following the completion of the transaction, the executive vice president now owns 1,546,227 shares in the company, valued at $285,278,881.50. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

Institutional Trading of Advanced Micro Devices

A number of hedge funds and other institutional investors have recently made changes to their positions in AMD. Tritonpoint Wealth LLC acquired a new stake in shares of Advanced Micro Devices during the fourth quarter worth about $328,000. Smith Salley & Associates acquired a new stake in Advanced Micro Devices during the 4th quarter worth approximately $201,000. One Wealth Management Investment & Advisory Services LLC purchased a new position in shares of Advanced Micro Devices in the 4th quarter valued at approximately $445,000. Americana Partners LLC increased its holdings in shares of Advanced Micro Devices by 9.0% in the fourth quarter. Americana Partners LLC now owns 38,361 shares of the semiconductor manufacturer’s stock valued at $5,475,000 after purchasing an additional 3,169 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its stake in shares of Advanced Micro Devices by 972.2% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 965 shares of the semiconductor manufacturer’s stock worth $142,000 after purchasing an additional 875 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.