Equity analysts at Zacks Research have revised their earnings per share (EPS) estimates for Advanced Micro Devices, Inc. (NASDAQ: AMD) for the fiscal year 2024. The adjustment, revealed in a note to investors on Wednesday, January 17th, indicates a forecasted earnings figure of $2.43 per share, slightly lower than the previous estimate of $2.44. The consensus estimate for the company’s full-year earnings in the current fiscal year is $1.92 per share. Zacks Research has also provided estimates for Advanced Micro Devices’ fiscal year 2025 earnings, projecting $3.40 EPS.
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In addition to Zacks Research, various other analysts have issued reports on the stock. Barclays raised their price objective on Advanced Micro Devices shares from $120.00 to $200.00, assigning an “overweight” rating in a research report on Tuesday. Susquehanna increased their price objective to $170.00, providing a “positive” rating in a report on the same day. Conversely, Truist Financial reduced their price target from $128.00 to $98.00, maintaining a “hold” rating on the stock in a report on Wednesday, November 1st. Mizuho raised their price objective to $162.00, offering a “buy” rating in a research report on Friday, January 5th. Finally, Wedbush reduced their target price from $155.00 to $130.00, setting an “outperform” rating on the stock in a research report on Wednesday, November 1st. According to data from MarketBeat, the company holds a consensus rating of “Moderate Buy,” with a consensus target price of $146.50.
Advanced Micro Devices (AMD) started trading at $162.67 on Friday, with a 12-month low of $67.26 and a high of $168.60. The company boasts a current ratio of 2.19, a quick ratio of 1.61, and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average of $134.26 and a 200-day moving average of $116.76. The firm’s market capitalization stands at $260.27 billion, with a P/E ratio of 1,355.70, a P/E/G ratio of 4.29, and a beta of 1.70.
Advanced Micro Devices last released its quarterly earnings data on Tuesday, October 31st, reporting $0.70 earnings per share (EPS) for the quarter. This exceeded analysts’ consensus estimates of $0.68 by $0.02. With a return on equity of 5.61% and a net margin of 0.94%, Advanced Micro Devices demonstrated resilience. The company achieved revenue of $5.80 billion for the quarter, surpassing the consensus estimate of $5.70 billion. In the same quarter of the previous year, the company posted $0.54 EPS, showing a 4.2% increase in revenue.
As for institutional investors, there have been recent modifications to their holdings of AMD. Symphony Financial Ltd. Co. acquired a new position in the fourth quarter, valued at approximately $617,000. Gradient Investments LLC raised its stake by 5.8% during the same period, now owning 162,304 shares of the semiconductor manufacturer’s stock worth $23,925,000. MBL Wealth LLC purchased a new stake valued at $244,000, and Global Retirement Partners LLC boosted its stake by 0.9%, now owning 48,066 shares valued at $7,630,000. Lastly, Blue Trust Inc. increased its position by 6.6%, now owning 2,751 shares worth $406,000. Approximately 68.43% of the stock is owned by hedge funds and other institutional investors.
Together with our partners, @AMD is reimagining the PC experience with leadership AI, gaming, and computing. Big thank you to our close friends and partners @Adobe @ASUS @CDPROJEKTRED @HP @huggingface @Lenovo @Microsoft for joining @LisaSu and me in our @AMD keynote. And to our… pic.twitter.com/AF9So8tUVJ
— Jack Huynh (@JackMHuynh) January 12, 2024
In insider trading news, CEO Lisa T. Su sold 75,000 shares on Tuesday, December 5th, at an average price of $117.73, totaling $8,829,750.00. Following the sale, the chief executive officer now holds 3,347,640 shares of the company’s stock, valued at approximately $394,117,657.20. In another transaction, CAO Darla M. Smith sold 4,000 shares on Thursday, December 7th, at an average price of $125.69, for a total value of $502,760.00. Following the sale, the chief accounting officer now holds 5,604 shares in the company, valued at approximately $704,366.76. CEO Lisa T. Su also sold 75,000 shares in a transaction dated Tuesday, December 5th, at an average price of $117.73, totaling $8,829,750.00. Following the sale, the chief executive officer now directly holds 3,347,640 shares in the company, valued at approximately $394,117,657.20.
Advanced Micro Devices, Inc. operates as a semiconductor company globally, with segments in Data Center, Client, Gaming, and Embedded. The company offers x86 microprocessors and graphics processing units (GPUs), chipsets, data center, and professional GPUs. Additionally, they provide embedded processors and semi-custom system-on-chip (SoC) products, microprocessor, and SoC development services and technology, data processing units, field-programmable gate arrays (FPGA), and adaptive SoC products.
While Advanced Micro Devices currently holds a “Moderate Buy” rating among analysts, top-rated analysts believe there are five other stocks that are better buys. MarketBeat keeps track of Wall Street’s top-rated and best-performing research analysts and the stocks they recommend to their clients daily. Advanced Micro Devices may not be among the top picks, but it remains a notable player in the semiconductor industry.
