Cantor Fitzgerald Presents Optimistic Earnings Outlook for AMD

Analysts at Cantor Fitzgerald have revised their earnings per share (EPS) estimates for Advanced Micro Devices, Inc. (NASDAQ:AMD). In a recent report released to investors on October 30th, analyst C. Muse expressed a positive outlook, increasing the FY2024 EPS estimate from $2.50 to $2.59. This adjustment reflects the company's expected performance in the semiconductor industry. Cantor Fitzgerald maintains an "Overweight" rating for AMD with a target price set at $180.00.

The current consensus estimate for AMD's full-year earnings stands at $2.56 per share, indicating that analysts generally share a bullish perspective on the company's financial health.

Market Analysis and Other Ratings

Several other financial analysts have also released their assessments regarding AMD. Piper Sandler reaffirmed an "overweight" rating while lowering their price target to $180.00 from $200.00. On the other hand, BNP Paribas upgraded AMD shares to a "strong buy" rating in a note dated July 31st. Meanwhile, Morgan Stanley adjusted their price target down to $169.00 from $178.00, assigning an "equal weight" rating.

TD Cowen also revised their target, now projecting a price of $185.00, down from $210.00 in their earlier estimate. Barclays has also lowered AMD's target price from $180.00 to $170.00 while keeping an "overweight" rating for the company. An analysis of all ratings indicates a diverse stance among analysts: one has recommended a sell, three have advised holding, while twenty-eight analysts have rated the stock as a buy, with one even giving it a strong buy rating. As reported by MarketBeat, AMD currently holds an average rating of "Moderate Buy" with an average price target of $192.79.

Recent Stock Performance and Highlights

The stock of Advanced Micro Devices opened at $144.07 recently. AMD boasts a market capitalization of approximately $233.17 billion and holds a price-to-earnings (P/E) ratio of 129.79, with a P/E/G ratio of 2.03. The company's stock is characterized by a beta value of 1.70, indicating higher volatility. Over the last fifty days, AMD has maintained a moving average price of $155.01 and a two-hundred-day moving average of $155.94. Its debt-to-equity ratio stands at a low 0.03, while the current ratio is 2.50, suggesting a strong liquidity position.

A glance at AMD's recent performance reveals a twelve-month low of $94.07 and a high of $227.30, indicating considerable price fluctuations.

Quarterly Earnings Results

Advanced Micro Devices recently published their quarterly earnings report on October 29th, revealing an EPS of $0.92, which aligned perfectly with analysts' expectations. The company reported revenues reaching $6.82 billion for the quarter, exceeding the consensus estimate of $6.71 billion.

AMD's net margin was recorded at 7.52%, with a return on equity of 6.62%. Compared to the same quarter of the previous year, quarterly revenue rose by 17.6%; this time last year, AMD had an EPS of $0.53. This growth trajectory is indicative of AMD's expanding market share and solid performance in the semiconductor sector.

Institutional Interests in Advanced Micro Devices

Recent activities by various hedge funds indicate increased interest in AMD stocks. Hennion & Walsh Asset Management Inc. acquired a new stake in AMD in the first quarter, valued at approximately $264,000. Additionally, FORVIS Wealth Advisors LLC raised its holding in AMD by 37.1%, now possessing 5,029 shares valued at $908,000 after purchasing an extra 1,361 shares in the previous quarter.

Also noteworthy is Norden Group LLC, which increased its stake by 41.1%, yielding a current total of 5,752 shares valued at an estimated $1,038,000. Prosperity Consulting Group LLC saw a more significant increase of 160.7%, with 3,650 shares totaling $659,000, while Blue Trust Inc. also raised its stake by 50.3%. Overall, a substantial 71.34% of AMD's stock is held by institutional investors.

Company Overview

Advanced Micro Devices, Inc. is a prominent global player in the semiconductor industry, operating through multiple segments: Data Center, Client, Gaming, and Embedded. The company is known for designing and producing x86 microprocessors, graphics processing units (GPUs), chipsets, and high-performance computing solutions. AMD also engages in developing data center products and customized system-on-chip (SoC) products, catering to a wide range of applications and markets.

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