Roth Capital Comments on Advanced Micro Devices, Inc.’s Q3 2024 Earnings (NASDAQ:AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Stock analysts at Roth Capital raised their Q3 2024 EPS estimates for shares of Advanced Micro Devices in a report issued on Wednesday, July 31st. Roth Capital analyst S. Desilva now forecasts that the semiconductor manufacturer will earn $0.70 per share for the quarter, up from their previous estimate 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.

Advanced Micro Devices (NASDAQ:AMD) last released its earnings results on Tuesday, July 30th. The semiconductor manufacturer reported $0.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 8.9% on a year-over-year basis.

AMD has been the subject of a number of other reports. Cantor Fitzgerald reduced their price target on shares of Advanced Micro Devices from $200.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Mizuho cut their target price on shares of Advanced Micro Devices from $235.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Susquehanna restated a “positive” rating and set a $200.00 price target on shares of Advanced Micro Devices in a report on Wednesday, July 31st. UBS Group cut their price objective on Advanced Micro Devices from $205.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, TD Cowen boosted their target price on Advanced Micro Devices from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $193.45.

Advanced Micro Devices Trading Down 3.4 %

Shares of NASDAQ AMD opened at $130.18 on Monday. The company has a current ratio of 2.82, a quick ratio of 1.92 and a debt-to-equity ratio of 0.03. Advanced Micro Devices has a one year low of $93.11 and a one year high of $227.30. The business has a 50-day moving average price of $159.77 and a two-hundred day moving average price of $167.67. The firm has a market capitalization of $210.69 billion, a PE ratio of 194.62, a PEG ratio of 1.79 and a beta of 1.69.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.6% in the first quarter. Vanguard Group Inc. now owns 144,794,666 shares of the semiconductor manufacturer’s stock valued at $26,133,989,000 after acquiring an additional 2,349,288 shares during the period. Fisher Asset Management LLC grew its stake in Advanced Micro Devices by 2.2% during the fourth quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock worth $4,181,849,000 after buying an additional 600,638 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Advanced Micro Devices by 10.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,675,684 shares of the semiconductor manufacturer’s stock valued at $4,079,674,000 after purchasing an additional 2,553,392 shares in the last quarter. Jennison Associates LLC increased its stake in shares of Advanced Micro Devices by 5.9% in the fourth quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock valued at $3,963,307,000 after buying an additional 1,490,997 shares in the last quarter. Finally, Norges Bank acquired a new stake in Advanced Micro Devices in the 4th quarter valued at about $3,426,529,000. Institutional investors and hedge funds own 71.34% of the company’s stock.

Insider Buying and Selling at Advanced Micro Devices

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