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Analyst Trims FY2024 EPS Estimates for Advanced Micro Devices, Inc.

Equity analysts at Zacks Research have adjusted their earnings per share (EPS) estimates for Advanced Micro Devices, Inc. (AMD) in a report released to investors on Wednesday, January 17th. Analyst A. Ganguly from Zacks Research now predicts that the semiconductor manufacturer will record earnings of $2.43 per share for the fiscal year 2024, a slight decrease from the previous estimate of $2.44. The consensus estimate for AMD’s current full-year earnings stands at $1.92 per share. Additionally, Zacks Research has provided projections for AMD’s FY2025 earnings, anticipating $3.40 EPS.

Several other analysts have also shared their perspectives on AMD’s stock. Barclays raised their price target on AMD shares from $120.00 to $200.00, assigning it an “overweight” rating in a research report on Tuesday. Susquehanna increased their price objective on AMD from $130.00 to $170.00, rating the company as “positive” in a report on the same day.

On the contrary, Truist Financial lowered their price target on AMD from $128.00 to $98.00, maintaining a “hold” rating on the stock in a report dated Wednesday, November 1st. Mizuho raised their price target on AMD from $130.00 to $162.00, giving it a “buy” rating in a research report on Friday, January 5th. Lastly, Wedbush decreased their target price on AMD from $155.00 to $130.00, maintaining an “outperform” rating on the stock in a research report on Wednesday, November 1st.

Among the various analysts, one has rated the stock as sell, three as hold, twenty-four as buy, and one as a strong buy, resulting in a consensus rating of “Moderate Buy.” The average target price is $146.50 based on available data.

Insight into Institutional Positions and Insider Transactions

Recent modifications to holdings by institutional investors indicate a dynamic market for AMD. Symphony Financial Ltd. Co. acquired a new position in AMD during the fourth quarter, valued at around $617,000. Gradient Investments LLC increased their stake by 5.8% in the same period, now holding 162,304 shares worth $23,925,000. MBL Wealth LLC also entered the scene, purchasing a new stake valued at $244,000. Global Retirement Partners LLC boosted their stake by 0.9%, now holding 48,066 shares worth $7,630,000. Lastly, Blue Trust Inc. increased its position by 6.6% during the fourth quarter, now owning 2,751 shares valued at $406,000. Notably, 68.43% of AMD’s stock is owned by hedge funds and other institutional investors.

Insiders at AMD have also made moves in the market. CEO Lisa T. Su recently sold 75,000 shares on Tuesday, December 5th, at an average price of $117.73, totaling $8,829,750. Following the transaction, Su now holds 3,347,640 shares, valued at approximately $394,117,657.20.

In a separate event, Chief Accounting Officer Darla M. Smith sold 4,000 shares on Thursday, December 7th, at an average price of $125.69, amounting to $502,760. Post-sale, Smith now owns 5,604 shares, valued at about $704,366.76. CEO Lisa T. Su also executed another sale of 75,000 shares on the same date, at an average price of $117.73, totaling $8,829,750. After this sale, Su’s direct holdings stand at 3,347,640 shares, valued at around $394,117,657.20. Insiders currently own 0.73% of AMD’s outstanding shares.

Advanced Micro Devices Company Overview

Operating globally as a semiconductor company, Advanced Micro Devices, Inc. has four key segments: Data Center, Client, Gaming, and Embedded. The company provides x86 microprocessors and graphics processing units (GPUs) as an accelerated processing unit, chipsets, data center, and professional GPUs. AMD also offers embedded processors and semi-custom system-on-chip (SoC) products, microprocessor and SoC development services and technology, data processing units, field programmable gate arrays (FPGA), and adaptive SoC products.

As a global semiconductor leader, AMD’s influence extends to partnerships and collaborations with industry leaders, contributing to its reputation as a key player in shaping the future of computing and technology. With a strategic focus on providing solutions for evolving market demands, AMD continues to be at the forefront of the semiconductor industry, driving advancements in computing, graphics, and data processing.

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