Roth Capital Analysts Cut Earnings Estimates for Advanced Micro Devices, Inc. (NASDAQ:AMD)

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Equities researchers at Roth Capital dropped their Q2 2024 earnings estimates for shares of Advanced Micro Devices in a note issued to investors on Tuesday, April 30th. Roth Capital analyst S. Desilva now anticipates that the semiconductor manufacturer will post earnings of $0.46 per share for the quarter, down from their prior estimate of $0.51. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $2.59 per share. Roth Capital also issued estimates for Advanced Micro Devices’ Q3 2024 earnings at $0.69 EPS, Q4 2024 earnings at $0.82 EPS, FY2024 earnings at $2.39 EPS, Q1 2025 earnings at $0.75 EPS, Q2 2025 earnings at $0.79 EPS, Q3 2025 earnings at $0.91 EPS and Q4 2025 earnings at $1.04 EPS.

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

Several other equities research analysts also recently commented on AMD. Roth Mkm dropped their price objective on shares of Advanced Micro Devices from $190.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday. Citigroup dropped their price objective on shares of Advanced Micro Devices from $192.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday. Melius Research raised shares of Advanced Micro Devices from a “hold” rating to a “buy” rating and set a $188.00 price objective on the stock in a report on Monday, January 8th. Cantor Fitzgerald dropped their price objective on shares of Advanced Micro Devices from $190.00 to $170.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Evercore ISI decreased their price target on Advanced Micro Devices from $200.00 to $193.00 and set an “outperform” rating on the stock in a research report on Wednesday. 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, the company has a consensus rating of “Moderate Buy” and an average price target of $184.24.

Advanced Micro Devices Price Performance

NASDAQ AMD opened at $150.60 on Friday. The company has a market cap of $243.42 billion, a PE ratio of 221.47, a price-to-earnings-growth ratio of 2.29 and a beta of 1.66. Advanced Micro Devices has a 52 week low of $81.11 and a 52 week high of $227.30. The company has a quick ratio of 1.86, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $175.41 and its two-hundred day simple moving average is $151.81.

Insider Buying and Selling

In other Advanced Micro Devices news, CEO Lisa T. Su sold 125,000 shares of the firm’s 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 of the company’s stock, valued at $628,753,739.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 16,200 shares of Advanced Micro Devices stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $164.25, for a total value of $2,660,850.00. Following the sale, the executive vice president now owns 1,554,602 shares of the company’s stock, valued at approximately $255,343,378.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Lisa T. Su sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were 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 approximately $628,753,739.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,850 shares of company stock worth $34,637,833. 0.73% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Advanced Micro Devices

Several large investors have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. increased its position in Advanced Micro Devices by 9.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 600,310 shares of the semiconductor manufacturer’s stock valued at $61,724,000 after buying an additional 50,449 shares in the last quarter. Stratos Wealth Advisors LLC increased its position in Advanced Micro Devices by 53.4% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 10,683 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 3,719 shares in the last quarter. Stonegate Investment Group LLC increased its position in Advanced Micro Devices by 9.3% during the 3rd quarter. Stonegate Investment Group LLC now owns 2,890 shares of the semiconductor manufacturer’s stock valued at $297,000 after buying an additional 245 shares in the last quarter. Bouchey Financial Group Ltd increased its holdings in shares of Advanced Micro Devices by 5.9% in the third quarter. Bouchey Financial Group Ltd now owns 3,275 shares of the semiconductor manufacturer’s stock valued at $337,000 after purchasing an additional 181 shares during the period. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in shares of Advanced Micro Devices by 1.8% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 782,496 shares of the semiconductor manufacturer’s stock valued at $80,456,000 after purchasing an additional 13,600 shares during the period. Institutional investors own 71.34% 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.