Cantor Fitzgerald Raises AMD Earnings Estimate

On October 30th, analysts at Cantor Fitzgerald announced an increase in their earnings per share (EPS) estimates for Advanced Micro Devices, Inc. (NASDAQ:AMD). Analyst C. Muse now expects that AMD, known for its semiconductor products, will achieve an EPS of $2.59 for the fiscal year 2024, up from a previous estimate of $2.50. This positive outlook has led Cantor Fitzgerald to maintain an "Overweight" rating on AMD's stock, along with a target price set at $180.00. This outlook aligns closely with the consensus estimate for AMD's full-year earnings, which stands at $2.56 per share.

Other analysts have also shared their evaluations of AMD recently. Piper Sandler confirmed an "Overweight" rating for AMD while adjusting their price target down to $180.00 from $200.00. Meanwhile, BNP Paribas upgraded AMD shares to a "strong-buy" rating. Morgan Stanley has lowered their price target from $178.00 to $169.00, reflecting an "equal weight" rating. TD Cowen similarly decreased their price target from $210.00 to $185.00, still giving a "buy" rating for AMD, while Barclays has revised their price target from $180.00 to $170.00, also retaining an "overweight" rating. Overall, among the professional analysts, one has rated the stock as a sell, three as a hold, twenty-eight as buy, and another one as strong buy. According to MarketBeat, the average rating for AMD presently stands at "Moderate Buy" with an average price target of $192.79.

AMD Financial Performance

AMD's stock recently opened at $144.07, exhibiting significant market activity with a current market capitalization of $233.17 billion. The company showcases a price-to-earnings (PE) ratio of 129.79 and a price-to-earnings growth (P/E/G) ratio of 2.03, with a beta value of 1.70 that indicates market volatility. Over the recent fifty days, the stock's moving average price has been observed at $155.01, while the two-hundred-day moving average is noted at $155.94. AMD's financial health is further supported by a low debt-to-equity ratio of 0.03, a robust current ratio of 2.50, and a quick ratio of 2.01. The company has experienced a 12-month trading range, hitting a low of $94.07 and a high of $227.30.

Recent Quarterly Results

On October 29th, AMD released its latest quarterly earnings, reporting earnings of $0.92 per share, matching the expectations set by analysts. The quarterly revenue stood at $6.82 billion, exceeding the initial estimates of $6.71 billion. AMD also reported a net margin of 7.52% and a return on equity of 6.62%, reflecting growth of 17.6% in quarterly revenue compared to the same quarter last year, where it earned $0.53 per share.

Institutional Investments in AMD

Recent investment trends indicate active trading in AMD shares by hedge funds. Notably, Hennion & Walsh Asset Management acquired a stake valued at approximately $264,000 in AMD. FORVIS Wealth Advisors significantly raised their investment by 37.1%, holding a total of 5,029 shares worth $908,000 after additional purchases. Similarly, Norden Group also increased their stake by 41.1% and now owns 5,752 shares valued at $1,038,000. Prosperity Consulting Group's stake jumped by 160.7%, acquiring 3,650 shares. Blue Trust Inc. also contributed to AMD’s growing institutional interest with a stake increase of 50.3%. Currently, around 71.34% of AMD's stock is held by various hedge funds and institutional investors.

About AMD

Advanced Micro Devices, Inc. operates globally as a semiconductor company with diversified segments including Data Center, Client, Gaming, and Embedded sectors. The company is well-known for providing x86 microprocessors, graphics processing units, and various custom semiconductor solutions.

AMD, Earnings, Estimates