AMD

Goldman Sachs analyst Toshiya Hari maintains Advanced Micro Devices (NASDAQ:AMD) with a Buy and raises the price target from $137 to $157.

Advanced Micro Devices (NASDAQ:AMD) Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/15/2023 18.53% B of A Securities → $165 Upgrades Neutral → Buy 12/07/2023 43.67% Rosenblatt → $200 Reiterates Outperform → Outperform 12/07/2023 4.16% Stifel → $145 Reiterates Buy → Buy 12/07/2023 0.57% Raymond James $125 → $140 Maintains Strong Buy 11/14/2023 -10.21% Roth MKM → $125 Initiates Coverage On → Buy 11/02/2023 -3.02% UBS $145 → $135 Maintains Buy 11/01/2023 -29.6% Truist Securities $128 → $98 Maintains Hold 11/01/2023 -6.62% Mizuho $140 → $130 Maintains Buy 11/01/2023 -13.8% Barclays $145 → $120 Maintains Overweight 11/01/2023 -6.62% Wedbush $155 → $130 Maintains Outperform 11/01/2023 -8.05% Morgan Stanley $138 → $128 Maintains Overweight 11/01/2023 -10.21% Raymond James $145 → $125 Maintains Strong Buy 11/01/2023 0.57% Keybanc $160 → $140 Maintains Overweight 08/03/2023 4.16% Benchmark $108 → $145 Maintains Buy 08/02/2023 -6.62% JP Morgan

B of A Securities analyst Vivek Arya upgrades Advanced Micro Devices (NASDAQ:AMD) from Neutral to Buy and announces $165 price target.

AMD (AMD) shares were rising 7.2% in recent Wednesday trading after the company’s non-GAAP earnings and net revenue came in ahead of analysts’ forecasts. The company reported Q3 non-GAAP earnings late Tuesday of $0.70 per diluted share, up from $0.67 a year earlier. Analysts polled by Capital IQ expected $0.68. Net revenue for the quarter ended Sept. 30 was $5.8 billion, up from $5.57 billion a year earlier. Analysts expected $5.69 billion. For Q4, the company said it expects revenue to be about $6.1 billion, plus or minus $300 million. Analysts polled by Capital IQ expect $6.39 billion.

AMD Reports Third Quarter 2023 Financial Results SANTA CLARA, Calif., Oct. 31, 2023  — AMD (NASDAQ:AMD) today announced revenue for the third quarter of 2023 of $5.8 billion, gross margin of 47%, operating income of $224 million, net income of $299 million and diluted earnings per share of $0.18. On a non-GAAP((*) basis, gross margin was 51%, operating income was $1.3 billion, net income was $1.1 billion and diluted earnings per share was $0.70. “We delivered strong revenue and earnings growth driven by demand for our Ryzen 7000 series PC processors and record server processor sales,” said AMD Chair and CEO Dr. Lisa Su. “Our data center business is on a significant growth trajectory based on the strength of our EPYC CPU portfolio and the ramp of Instinct MI300 accelerator shipments to support multiple deployments with hyperscale, enterprise and AI customers.” “We executed well in the third quarter, delivering year-over-year

AMD Sees Q4 Revenue $5.8B-$6.4B Vs $6.01B Est.

AMD (AMD) reported Q3 non-GAAP earnings Tuesday of $0.70 per diluted share, up from $0.67 a year earlier. Analysts polled by Capital IQ expected EPS of $0.68. Net revenue for the quarter ended Sept. 30 was $5.8 billion, up from $5.57 billion a year earlier. Analysts expected $5.69 billion. For Q4, the company said it expects revenue to be about $6.1 billion, plus or minus $300 million. Analysts polled by Capital IQ expect $6.39 billion.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We reduce our 12-month target to $125 from $145, on P/E of 23x our ’25 EPS view, which we start at $5.44, below historical but above peers. We adjust our ’23 EPS estimate to $2.73 from $2.87 and ’24’s to $4.31 from $4.41. AMD posts Q3 EPS of $0.70 vs. $0.67, beating the $0.68 consensus view. Sales rose 4%, slightly ahead of expectations, as growth in Client (+42%) was partly offset by declines in Gaming (-8%) and Embedded (-5%). Data Center was flat. We are encouraged by PC recovery, led by higher Ryzen sales, but note a mildly disappointing Q4 guide on Embedded/Gaming weakness (sales of $6.1B/GM of 51.5% vs. $6.4B/52% consensus). We remain extremely optimistic about AMD’s data center pipeline on both the CPU and GPU

Company Management Jean Hu – EVP, CFO, & Treasurer Lisa Su – Chair & CEO Mitch Haws – Head of IR Conference Call Participants Aaron Rakers – Wells Fargo Blayne Curtis – Barclays Christopher Rolland – Susquehanna Harsh Kumar – Piper Sandler Joseph Moore – Morgan Stanley Mattew Ramsay – TD Cowen Ross Seymore – Deutsche Bank Stacy Rasgon – Bernstein Research Timothy Arcuri – UBS Toshiya Hari – Goldman Sachs Vivek Arya – Bank of America Securities Operator Thank you, Mitch. We will now be conducting a question-and-answer session. [Operator Instructions] And the first question comes from the line of Toshiya Hari with Goldman Sachs. Please proceed with your question. Toshiya Hari Great. Thank you so much. Lisa, I had two questions. My first one is on the Data Center GPU business. You talked about ’24 revenue potentially exceeding $2 billion. I was hoping you could provide a little