Q3 EPS Forecast for Advanced Micro Devices Raised by Analyst

Key Points

• KeyCorp raised AMD’s Q3 2026 EPS forecast to $1.84 from $1.64 and projects $7.15 EPS for fiscal 2026 and $19.17 for fiscal 2027.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and average price target of $603.51; recent firms have issued targets as high as $650.
• AMD’s latest quarter exceeded expectations, with $1.66 EPS and $11.54 billion in revenue, but its elevated valuation, semiconductor-sector volatility and substantial insider selling remain potential risks.

Advanced Micro Devices, Inc. (NASDAQ:AMD - Free Report) - Equities researchers at KeyCorp boosted their Q3 2026 earnings per share (EPS) 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 prior estimate of $1.64. The consensus estimate for Advanced Micro Devices' current full-year earnings is $6.49 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.

Several other brokerages also recently issued reports on AMD. UBS Group reissued an "overweight" rating on shares of Advanced Micro Devices in a report on Friday, July 24th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $650.00 price objective on shares of Advanced Micro Devices in a research report on Wednesday, August 5th. BMO Capital Markets began coverage on shares of Advanced Micro Devices in a research note on Thursday, August 20th. They set an "outperform" rating and a $550.00 target price for the company. Truist Financial boosted their target price on shares of Advanced Micro Devices from $478.00 to $594.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. Finally, Jefferies Financial Group set a $650.00 target price on shares of Advanced Micro Devices in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $603.51.

Advanced Micro Devices Price Performance

Shares of NASDAQ AMD opened at $528.75 on Monday. 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 firm has a market capitalization of $863.17 billion, a PE ratio of 135.93, a P/E/G ratio of 5.43 and a beta of 2.45. Advanced Micro Devices has a 1-year low of $188.22 and a 1-year high of $658.52. The business's fifty day moving average price is $537.02 and its two-hundred day moving average price is $474.16.

Advanced Micro Devices (NASDAQ:AMD - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The semiconductor manufacturer reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.04. The business had revenue of $11.54 billion during the quarter, compared to analyst estimates 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 firm posted $0.48 EPS.

Insiders Place Their Bets

In related news, CEO Lisa T. Su sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $506.79, for a total transaction of $12,669,750.00. Following the completion of the sale, the chief executive officer directly owned 74,211 shares in the company, valued at approximately $37,609,392.69. This trade represents a 25.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Mark D. Papermaster sold 28,811 shares of Advanced Micro Devices stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $471.87, for a total transaction of $13,595,046.57. Following the completion of the transaction, the executive vice president owned 1,261,461 shares in the company, valued at approximately $595,245,602.07. This trade represents a 2.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 213,838 shares of company stock worth $105,533,836. Company insiders own 0.50% of the company's stock.

Institutional Investors Weigh In On Advanced Micro Devices

Several hedge funds have recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in Advanced Micro Devices in the 3rd quarter worth $29,000. JNBA Financial Advisors lifted its position in shares of Advanced Micro Devices by 142.9% in the 2nd quarter. JNBA Financial Advisors now owns 51 shares of the semiconductor manufacturer's stock worth $30,000 after purchasing an additional 30 shares during the period. Graney & King LLC purchased a new stake in shares of Advanced Micro Devices in the 1st quarter worth about $31,000. Main Street Group LTD purchased a new position in shares of Advanced Micro Devices during the first quarter valued at about $33,000. Finally, Downshift Financial LLC increased its position in shares of Advanced Micro Devices by 850.0% during the third quarter. Downshift Financial LLC now owns 57 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 71.34% of the company's stock.

Key Stories Impacting Advanced Micro Devices

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

• Positive Sentiment: Arete raised its AMD price target to $612 from $540, while recent commentary highlighted the company’s expanding data-center business, AI accelerator opportunity and open Helion rack-scale architecture. Arete Adjusts Price Target on Advanced Micro Devices
• Positive Sentiment: AMD’s credit-support agreement for Fermi’s Texas data-center power lease is viewed as a potential AI infrastructure catalyst, although Fermi still faces liquidity and lease-related risks. AMD's Support Could Help Fermi Stock
• Neutral Sentiment: ETF investors were net sellers of AMD on October 14, adding to short-term trading pressure but offering little insight into the company’s operating outlook. ETFs Are Net Sellers of AMD
• Negative Sentiment: A broad semiconductor selloff intensified after a Qualcomm jury verdict, with Arm, AMD and Taiwan Semiconductor declining together. Investors are questioning whether AI infrastructure spending can sustain current expectations, particularly as elevated interest rates pressure richly valued growth stocks. Arm and AMD Fall as Qualcomm Verdict Adds to Chip Selloff
• Negative Sentiment: Analysts and investors are also reassessing AMD’s elevated valuation, AI financing risks and the sustainability of extremely high data-center spending. Reports of widespread insider selling may further weigh on sentiment, even though institutional ownership remains substantial. AMD Slides as Chip Selloff Continues

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.

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