Advanced Micro Devices, Inc. (NASDAQ:AMD) to Post FY2022 Earnings of $2.95 Per Share, KeyCorp Forecasts

Advanced Micro Devices, Inc. (NASDAQ:AMD – Get Rating) – Research analysts at KeyCorp lowered their FY2022 EPS estimates for Advanced Micro Devices in a report released on Wednesday, January 11th. KeyCorp analyst J. Vinh now expects that the semiconductor manufacturer will post earnings of $2.95 per share for the year, down from their previous estimate of $2.98. KeyCorp has a “Overweight” rating and a $80.00 price objective on the stock. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.97 per share. KeyCorp also issued estimates for Advanced Micro Devices’ Q4 2022 earnings at $0.52 EPS, Q1 2023 earnings at $0.47 EPS, Q2 2023 earnings at $0.57 EPS, Q3 2023 earnings at $0.74 EPS, Q4 2023 earnings at $0.78 EPS and FY2023 earnings at $2.53 EPS.

Several other analysts have also issued reports on the stock. Truist Financial lowered their price target on shares of Advanced Micro Devices from $107.00 to $70.00 and set a “hold” rating on the stock in a research report on Friday, October 7th. Citigroup lowered their price target on shares of Advanced Micro Devices from $96.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, October 10th. Susquehanna Bancshares reduced their price objective on shares of Advanced Micro Devices to $95.00 in a research note on Friday, September 30th. Bank of America reduced their price objective on shares of Advanced Micro Devices from $100.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, October 7th. Finally, Piper Sandler reduced their price objective on shares of Advanced Micro Devices from $140.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, October 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $97.19.

Advanced Micro Devices Stock Performance

NASDAQ AMD opened at $71.00 on Friday. The company’s 50 day moving average is $69.16 and its 200-day moving average is $75.03. Advanced Micro Devices has a 12-month low of $54.57 and a 12-month high of $137.00. The company has a quick ratio of 1.65, a current ratio of 2.16 and a debt-to-equity ratio of 0.05. The firm has a market cap of $114.48 billion, a P/E ratio of 42.51, a price-to-earnings-growth ratio of 1.35 and a beta of 2.04.

Advanced Micro Devices (NASDAQ:AMD – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The semiconductor manufacturer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). Advanced Micro Devices had a return on equity of 11.17% and a net margin of 9.96%. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.58 billion. During the same period in the prior year, the firm posted $0.66 EPS.

Insiders Place Their Bets

In related news, EVP Paul Darren Grasby sold 16,153 shares of the stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $70.95, for a total value of $1,146,055.35. Following the completion of the transaction, the executive vice president now directly owns 113,875 shares in the company, valued at approximately $8,079,431.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC purchased a new stake in Advanced Micro Devices during the 1st quarter valued at about $777,111,000. Public Investment Fund purchased a new stake in Advanced Micro Devices during the 2nd quarter valued at about $359,567,000. Northern Trust Corp grew its position in Advanced Micro Devices by 35.5% during the 1st quarter. Northern Trust Corp now owns 17,086,683 shares of the semiconductor manufacturer’s stock valued at $1,868,258,000 after purchasing an additional 4,475,368 shares during the last quarter. Barclays PLC grew its position in Advanced Micro Devices by 68.5% during the 3rd quarter. Barclays PLC now owns 8,593,202 shares of the semiconductor manufacturer’s stock valued at $544,468,000 after purchasing an additional 3,494,276 shares during the last quarter. Finally, FMR LLC grew its position in Advanced Micro Devices by 7.3% during the 2nd quarter. FMR LLC now owns 49,140,967 shares of the semiconductor manufacturer’s stock valued at $3,757,811,000 after purchasing an additional 3,358,202 shares during the last quarter. 67.17% of the stock is currently owned by institutional investors.

Advanced Micro Devices Company Profile

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Advanced Micro Devices, Inc operates as a semiconductor company worldwide. The company operates in two segments, Computing and Graphics; and Enterprise, Embedded and Semi-Custom. Its products include x86 microprocessors as an accelerated processing unit, chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs, and development services; and server and embedded processors, and semi-custom System-on-Chip (SoC) products, development services, and technology for game consoles.