Q3 EPS Estimate for Advanced Micro Devices Lifted by Analyst

Advanced Micro Devices, Inc. (NASDAQ:AMD) – Analysts at KeyCorp upped their Q3 2026 earnings estimates for shares of Advanced Micro Devices in a note issued to investors on Wednesday, October 14th. KeyCorp analyst J. Vinh now expects that the semiconductor manufacturer will earn $1.84 per share for the quarter, up from their previous estimate of $1.64. The consensus estimate for Advanced Micro Devices’ current full-year earnings is $6.50 per share. KeyCorp also issued estimates for Advanced Micro Devices’ Q4 2026 earnings at $2.80 EPS, FY2026 earnings at $7.15 EPS, Q1 2027 earnings at $3.55 EPS, Q2 2027 earnings at $4.21 EPS, Q3 2027 earnings at $5.17 EPS, Q4 2027 earnings at $6.27 EPS and FY2027 earnings at $19.17 EPS.

Advanced Micro Devices (NASDAQ:AMD) last released its quarterly earnings results on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $11.54 billion for the quarter, compared to analysts’ expectations of $11.31 billion. Advanced Micro Devices had a return on equity of 12.30% and a net margin of 15.58%. The business’s revenue for the quarter was up 50.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 earnings per share.

A number of other research analysts have also issued reports on AMD. William Blair reiterated a “market perform” rating on shares of Advanced Micro Devices in a research report on Friday, July 24th. Rosenblatt Securities reissued a “buy” rating and issued a $700.00 price target on shares of Advanced Micro Devices in a research note on Tuesday, September 29th. Mizuho raised their price target on Advanced Micro Devices from $580.00 to $705.00 and gave the company an “outperform” rating in a report on Tuesday, October 6th. Bank of America raised their price target on Advanced Micro Devices from $620.00 to $720.00 and gave the company a “buy” rating in a report on Friday, September 25th. Finally, DA Davidson lifted their price objective on shares of Advanced Micro Devices from $425.00 to $550.00 and gave the company a “buy” rating in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $603.51.

Advanced Micro Devices Stock Down 0.6%

AMD opened at $534.74 on Monday. Advanced Micro Devices has a 12 month low of $188.22 and a 12 month high of $658.52. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.61 and a quick ratio of 1.91. The stock has a market cap of $872.95 billion, a P/E ratio of 137.47, a P/E/G ratio of 5.52 and a beta of 2.45. The stock’s 50 day moving average price is $539.60 and its 200 day moving average price is $478.81.

Hedge Funds Weigh In On Advanced Micro Devices

Several hedge funds have recently modified their holdings of the company. Southpoint Capital Advisors LP raised its holdings in Advanced Micro Devices by 50.0% during the first quarter. Southpoint Capital Advisors LP now owns 900,000 shares of the semiconductor manufacturer’s stock worth $183,087,000 after buying an additional 300,000 shares during the last quarter. Boomfish Wealth Group LLC bought a new position in shares of Advanced Micro Devices in the first quarter valued at $1,193,000. Dimensional Fund Advisors LP lifted its stake in shares of Advanced Micro Devices by 6.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,142,516 shares of the semiconductor manufacturer’s stock valued at $1,045,954,000 after buying an additional 291,165 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its holdings in shares of Advanced Micro Devices by 6,968.7% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 140,313 shares of the semiconductor manufacturer’s stock valued at $85,995,000 after buying an additional 138,328 shares during the last quarter. Finally, Douglas Lane & Associates LLC grew its holdings in shares of Advanced Micro Devices by 2,748.0% during the third quarter. Douglas Lane & Associates LLC now owns 85,952 shares of the semiconductor manufacturer’s stock valued at $52,582,000 after buying an additional 82,934 shares during the last quarter. 71.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Advanced Micro Devices news, EVP Mark D. Papermaster sold 28,811 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total value of $13,595,046.57. Following the completion of the sale, the executive vice president directly owned 1,261,461 shares in the company, valued at $595,245,602.07. This represents a 2.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Forrest Norrod sold 17,262 shares of the stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $540.70, for a total value of $9,333,563.40. Following the transaction, the executive vice president directly owned 353,317 shares of the company’s stock, valued at approximately $191,038,501.90. The trade was a 4.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 231,100 shares of company stock valued at $114,867,400 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Key Headlines Impacting Advanced Micro Devices

Here are the key news stories impacting Advanced Micro Devices this week:

• Positive Sentiment: Analyst support remains firm: Wedbush reaffirmed its “Outperform” rating and set a $600 price target. Earlier, TD Cowen maintained a Buy rating with a $675 target, citing potential agentic-AI demand and roughly 70% growth in AMD’s CPU sales next year. Wedbush AMD rating
• Positive Sentiment: Growth expectations remain elevated: AMD is expected to report approximately $13 billion in third-quarter revenue, up about 41% year over year, ahead of its anticipated November 3 earnings report. The company has exceeded the high end of its guidance in each of the past two quarters. AMD earnings expectations
• Positive Sentiment: Sector rebound signals: Semiconductor stocks recovered from an early sell-off as AI jitters eased. Falling short interest in leveraged semiconductor funds and increased institutional buying suggest some investors view the recent weakness as a temporary pullback rather than a deterioration in chip demand. Chip stocks recover as AI jitters fade
• Neutral Sentiment: OpenAI fundraising highlights ongoing AI demand: OpenAI is reportedly seeking roughly $30 billion at a valuation above $1.4 trillion. However, the disclosed financing support centers on Nvidia, offering no direct new business commitment to AMD and underscoring intense competitive pressure in AI infrastructure. OpenAI fundraising and chip stocks
• Negative Sentiment: Valuation is a major overhang: After rising more than 155% this year, AMD trades at a very high earnings multiple, making the stock vulnerable to profit-taking and any disappointment in AI growth, margins or execution. Analysts have questioned whether the Helios ramp and future earnings can justify the valuation. AMD AI opportunity and valuation
• Negative Sentiment: AI bubble and financing concerns persist: Reports citing semiconductor declines, leveraged AI financing and uncertainty over data-center spending have revived fears that the AI buildout could slow or produce margin pressure. An executive’s $9.3 million Rule 10b5-1 stock sale adds a modest negative sentiment signal, although he retained a substantial position.

About Advanced Micro Devices

Advanced Micro Devices, Inc (NASDAQ: AMD) is a global semiconductor company that designs high-performance computing, graphics and adaptive computing products. Its offerings serve data centers, personal computers, gaming systems, embedded markets and other specialized applications.

AMD’s product portfolio includes Ryzen processors for desktop and notebook computers, EPYC server processors, Radeon graphics processing units, and Instinct accelerators for artificial intelligence and high-performance computing.