Q2 2024 EPS Estimates for Advanced Micro Devices, Inc. (NASDAQ:AMD) Lowered by Wedbush

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Analysts at Wedbush dropped their Q2 2024 earnings per share estimates for shares of Advanced Micro Devices in a research note issued to investors on Wednesday, May 1st. Wedbush analyst M. Bryson now anticipates that the semiconductor manufacturer will post earnings of $0.48 per share for the quarter, down from their previous estimate of $0.57. Wedbush currently has a “Outperform” rating and a $200.00 target price on the stock. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.64 per share. Wedbush also issued estimates for Advanced Micro Devices’ Q3 2024 earnings at $0.78 EPS, Q4 2024 earnings at $1.05 EPS, FY2024 earnings at $2.74 EPS, Q1 2025 earnings at $1.05 EPS, Q2 2025 earnings at $1.33 EPS, Q3 2025 earnings at $1.62 EPS and Q4 2025 earnings at $1.87 EPS.

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

A number of other equities analysts have also commented on AMD. Wells Fargo & Company raised their price target on shares of Advanced Micro Devices from $165.00 to $190.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. HSBC raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and raised their target price for the stock from $180.00 to $225.00 in a report on Tuesday, April 16th. Morgan Stanley reduced their price target on Advanced Micro Devices from $193.00 to $177.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Cantor Fitzgerald dropped their price objective on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, KeyCorp cut their target price on Advanced Micro Devices from $270.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $184.24.

Advanced Micro Devices Stock Performance

AMD opened at $150.60 on Friday. The business has a fifty day simple moving average of $175.93 and a 200 day simple moving average of $151.50. The company has a market capitalization of $243.39 billion, a PE ratio of 221.47, a price-to-earnings-growth ratio of 2.19 and a beta of 1.66. Advanced Micro Devices has a 1 year low of $81.11 and a 1 year high of $227.30. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 1.86.

Insider Activity at Advanced Micro Devices

In related news, CEO Lisa T. Su sold 125,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total transaction of $24,391,250.00. Following the sale, the chief executive officer now owns 3,222,230 shares of the company’s stock, valued at approximately $628,753,739.90. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices 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 transaction, the chief accounting officer now directly owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lisa T. Su sold 125,000 shares of Advanced Micro Devices stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $195.13, for a total value of $24,391,250.00. Following the transaction, the chief executive officer now directly owns 3,222,230 shares in the company, valued at $628,753,739.90. The disclosure for this sale can be found here. Insiders have sold a total of 181,850 shares of company stock valued at $34,637,833 in the last 90 days. 0.73% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Chase Investment Counsel Corp lifted its stake in shares of Advanced Micro Devices by 0.7% in the 4th quarter. Chase Investment Counsel Corp now owns 12,025 shares of the semiconductor manufacturer’s stock valued at $1,772,000 after purchasing an additional 87 shares during the period. Washburn Capital Management Inc. acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $231,000. Pathway Financial Advisors LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $229,000. Independence Bank of Kentucky lifted its stake in shares of Advanced Micro Devices by 84.1% in the 4th quarter. Independence Bank of Kentucky now owns 3,671 shares of the semiconductor manufacturer’s stock valued at $541,000 after purchasing an additional 1,677 shares during the period. Finally, Headlands Technologies LLC acquired a new position in shares of Advanced Micro Devices in the 4th quarter valued at about $1,759,000. 71.34% of the stock is owned by institutional investors and hedge funds.

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.