Northland Capmk Weighs in on Advanced Micro Devices, Inc.’s Q2 2024 Earnings (NASDAQ:AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Stock analysts at Northland Capmk increased their Q2 2024 EPS estimates for Advanced Micro Devices in a research report issued on Wednesday, May 1st. Northland Capmk analyst G. Richard now anticipates that the semiconductor manufacturer will post earnings of $0.44 per share for the quarter, up from their prior estimate of $0.43. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.63 per share. Northland Capmk also issued estimates for Advanced Micro Devices’ Q3 2024 earnings at $0.62 EPS, Q4 2024 earnings at $0.82 EPS and FY2025 earnings at $4.21 EPS.

AMD has been the subject of several other research reports. Cantor Fitzgerald cut their price objective on Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Benchmark cut their price target on Advanced Micro Devices from $245.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday. New Street Research raised shares of Advanced Micro Devices from a “neutral” rating to a “buy” rating and set a $215.00 price objective on the stock in a research note on Wednesday, January 24th. Melius upgraded shares of Advanced Micro Devices from a “hold” rating to a “buy” rating in a research report on Monday, January 8th. Finally, Bank of America increased their price target on shares of Advanced Micro Devices from $165.00 to $195.00 and gave the company a “buy” rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.24.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $150.60 on Monday. 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. The stock has a fifty day moving average price of $175.41 and a 200 day moving average price of $152.49. The company has a market cap of $243.42 billion, a PE ratio of 221.47, a P/E/G ratio of 2.36 and a beta of 1.66.

Advanced Micro Devices (NASDAQ:AMD) last posted its earnings results on Tuesday, April 30th. The semiconductor manufacturer reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The business 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 business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.43 EPS.

Insiders Place Their Bets

In other Advanced Micro Devices news, CAO Darla M. Smith sold 1,678 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $188.66, for a total transaction of $316,571.48. Following the sale, the chief accounting officer now directly owns 4,209 shares in the company, valued at approximately $794,069.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Darla M. Smith sold 1,678 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $188.66, for a total value of $316,571.48. Following the completion of the sale, the chief accounting officer now owns 4,209 shares of the company’s stock, valued at approximately $794,069.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph A. Householder sold 6,572 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $208.08, for a total transaction of $1,367,501.76. Following the completion of the sale, the director now owns 2,197 shares in the company, valued at approximately $457,151.76. The disclosure for this sale can be found here. Insiders have sold 181,850 shares of company stock worth $34,637,833 in the last quarter. 0.73% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Advanced Micro Devices

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Advanced Micro Devices by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 142,445,378 shares of the semiconductor manufacturer’s stock valued at $20,997,873,000 after purchasing an additional 2,390,558 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Advanced Micro Devices by 2.2% in the 4th quarter. Fisher Asset Management LLC now owns 28,368,826 shares of the semiconductor manufacturer’s stock valued at $4,181,849,000 after buying an additional 600,638 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of 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 buying an additional 2,553,392 shares during the last quarter. Jennison Associates LLC raised its position in shares of Advanced Micro Devices by 5.9% during the 4th quarter. Jennison Associates LLC now owns 26,886,280 shares of the semiconductor manufacturer’s stock worth $3,963,307,000 after purchasing an additional 1,490,997 shares during the period. Finally, Norges Bank bought a new stake in Advanced Micro Devices in the fourth quarter valued at $3,426,529,000. 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.