AMD
Advanced Micro Devices, Inc.
AMD has the edge over SMTC overall, supported by stronger fundamentals and stronger valuation.
SMTC
Semtech Corporation
SMTC's outlook is improving, though it still trails on the overall score.
AMD Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Strong | |
| Strong | |
| Strong |
AMD's revenue, profitability, cash flow and balance sheet are all currently strong.
SMTC Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Strong |
SMTC's revenue, profitability, cash flow and balance sheet are all currently healthy.
AMD PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 39x | $585 | — |
| Cheap | 40x | $182 | -69% |
| Fair | 112x | $514 | -12% |
| Current | 127x | $585 | — |
| Expensive | 206x | $947 | +62% |
Historical ranges are pointers, not guarantees.
AMD has the edge over SMTC in the historical PE scenario, which offers more potential upside but is not a forecast.
SMTC PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 20x | $119 | — |
| Cheap | 23x | $34.23 | -71% |
| Fair | 65x | $96.99 | -19% |
| Current | 80x | $119 | — |
| Expensive | 104x | $155 | +30% |
Historical ranges are pointers, not guarantees.
SMTC's PE is in its fair range at 80x. If earnings grow as analysts expect, today's price would be 20x next year's earnings, in its cheap range.
AMD Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Broad | |
| Low |
Analysts expect strong earnings and revenue growth for AMD, with profitability improving. However, they disagree widely on these estimates.
SMTC Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
Analysts expect strong earnings and revenue growth for SMTC, with profitability improving. However, they disagree widely on these estimates.
AMD Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $15.05 | +227% |
| Q3 2026 | $4.60 | +127% |
| Q2 2026 | $3.89 | +122% |
| Q1 2026 | $3.05 | +123% |
| Q4 2025 | $2.65 | +165% |
| Q3 2025 | $2.03 | +81% |
| Q2 2025 | $1.75 | +111% |
| Q1 2025 | $1.37 | +99% |
| Q4 2024 | $1.00 | +89% |
AMD has the edge over SMTC on earnings, with more consistent year-over-year improvement.
SMTC Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.04 | +306% |
| Q3 2026 | $1.49 | +140% |
| Q2 2026 | -$0.41 | +$1.27 |
| Q1 2026 | -$0.46 | +$1.80 |
| Q4 2025 | $0.69 | +$13.76 |
| Q3 2025 | $0.62 | +$14.19 |
| Q2 2025 | -$1.68 | +$15.25 |
| Q1 2025 | -$2.26 | +$14.77 |
| Q4 2024 | -$13.07 | -$5.24 |
SMTC's earnings per share have fallen from their peak: $1.49 over the past year, against $2.46 in mid-2022.
AMD Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $13.4B | +45% |
| Q2 2026 | $11.5B | +50% |
| Q1 2026 | $10.3B | +38% |
| Q4 2025 | $10.3B | +34% |
| Q3 2025 | $9.2B | +36% |
| Q2 2025 | $7.7B | +32% |
| Q1 2025 | $7.4B | +36% |
| Q4 2024 | $7.7B | +24% |
AMD has the edge over SMTC on sales, with stronger typical year-over-year growth.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 21% | +7.4 points |
| Q2 2026 | 17% | +19 points |
| Q1 2026 | 14% | +3.6 points |
| Q4 2025 | 17% | +5.7 points |
| Q3 2025 | 14% | +3.1 points |
| Q2 2025 | -1.7% | -6.4 points |
| Q1 2025 | 11% | +10 points |
| Q4 2024 | 11% | +5.8 points |
AMD has the edge over SMTC on profitability, with a higher operating margin.
SMTC Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $341.9M | +33% |
| Q2 2026 | $291M | +16% |
| Q1 2026 | $274.4M | +9.3% |
| Q4 2025 | $267M | +13% |
| Q3 2025 | $257.6M | +20% |
| Q2 2025 | $251.1M | +22% |
| Q1 2025 | $251M | +30% |
| Q4 2024 | $236.8M | +18% |
SMTC's revenue has grown year over year for eight quarters in a row: $342M last quarter, up 33% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 16% | +23 points |
| Q2 2026 | 8.9% | -5.5 points |
| Q1 2026 | -6.7% | -15 points |
| Q4 2025 | 12% | +4.1 points |
| Q3 2025 | -6.3% | -9.9 points |
| Q2 2025 | 14% | +13 points |
| Q1 2025 | 8.5% | +330 points |
| Q4 2024 | 7.5% | +14 points |
SMTC's operating margin was 16% last quarter, up 23 points from the same quarter a year ago.
AMD Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $554M | -71% |
| Q2 2026 | $1.6B | -9.9% |
| Q1 2026 | $2.6B | +253% |
| Q4 2025 | $2.4B | +118% |
| Q3 2025 | $1.9B | +283% |
| Q2 2025 | $1.7B | +294% |
| Q1 2025 | $727M | +92% |
| Q4 2024 | $1.1B | +351% |
AMD generated $7.1B in free cash flow over the past year, up 30% from the year before.
SMTC Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $61.4M | +48% |
| Q2 2026 | $28M | +7% |
| Q1 2026 | $59.1M | +91% |
| Q4 2025 | $44.6M | +53% |
| Q3 2025 | $41.5M | +$49.9M |
| Q2 2025 | $26.2M | +$27.6M |
| Q1 2025 | $30.9M | +153% |
| Q4 2024 | $29.1M | +$41.5M |
SMTC has the edge over AMD on cash flow, with more consistent year-over-year improvement.
AMD Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.1% | +2M shares |
| 1 year | +1.2% | +20M shares |
| 3 years | +2% | +32M shares |
| 5 years | +35% | +431M shares |
| Available history | +40% | +473M shares |
AMD has the edge over SMTC on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | — |
| Q1 2026 | $221M |
| Q4 2025 | — |
| Q3 2025 | $89M |
| Q2 2025 | $478M |
| Q1 2025 | $749M |
| Q4 2024 | $256M |
AMD has spent almost nothing on buybacks in the past year.
SMTC Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +2.9% | +2.8M shares |
| 1 year | +16% | +14.1M shares |
| 3 years | +58% | +36.8M shares |
| 5 years | +54% | +35.3M shares |
| Available history | +50% | +33.5M shares |
SMTC has 101M diluted shares, up 16% from a year ago.
| Quarter | Spent |
|---|---|
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | — |
| Q4 2022 | — |
| Q3 2022 | — |
| Q2 2022 | $50M |
AMD Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2020 | -1.0x | Net Cash |
| Q1 2020 | -0.8x | Net Cash |
| Q4 2019 | -1.2x | Net Cash |
AMD has the edge over SMTC on leverage, with a lower net debt burden relative to earnings.
SMTC Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q4 2020 | -0.8x | Net Cash |
| Q3 2020 | -0.9x | Net Cash |
| Q2 2020 | -0.8x | Net Cash |
| Q1 2020 | -1.0x | Net Cash |
| Q4 2019 | -0.7x | Net Cash |
SMTC has more cash than debt.
AMD Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 59.3 | Neutral |
| Stochastic | 41.4 | Neutral |
AMD's weekly RSI is 59 (neutral) and its Stochastic is 41 (neutral).
SMTC Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 44.9 | Neutral |
| Stochastic | 20.9 | Neutral |
SMTC's weekly RSI is 45 (neutral) and its Stochastic is 21 (neutral).
AMD PE vs Technology Sector
| Metric | AMD | Sector median | Relative |
|---|---|---|---|
| PE | 127x | 28x | 357% above |
| PE % | 61 | 35 | 26 pts above |
AMD is trading at 127x earnings, a 357% premium to the Technology sector's median of 28x.
SMTC PE vs Technology Sector
| Metric | SMTC | Sector median | Relative |
|---|---|---|---|
| PE | 80x | 28x | 188% above |
| PE % | 65 | 35 | 30 pts above |
SMTC has the edge over AMD on valuation relative to its sector.
AMD Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $557.2 | 5.1% above |
| 20 week MA | $525.9 | 11% above |
| 50 week MA | $389.7 | 50% above |
| 100 week MA | $266.9 | 119% above |
| 200 week MA | $199.6 | 193% above |
AMD has the edge over SMTC on trend strength, trading above more of its moving averages.
SMTC Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $147.9 | 19% below |
| 20 week MA | $142.9 | 16% below |
| 50 week MA | $118.0 | 1.2% above |
| 100 week MA | $84.7 | 41% above |
| 200 week MA | $57.2 | 109% above |
SMTC has pulled back, but its long-term trend is still up: it's below its 8- and 20-week averages, but 109% above its 200-week average.
AMD Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $46.2 | $91.8 | +99% |
| 2021 | $91.8 | $146.1 | +59% |
| 2022 | $146.1 | $64.5 | -56% |
| 2023 | $64.5 | $147.4 | +128% |
| 2024 | $147.4 | $125.2 | -15% |
| 2025 | $125.2 | $215.0 | +72% |
| 2026 YTD | $215.0 | $585.3 | +172% |
AMD has the edge over SMTC on returns for 2026, with the stronger performance.
SMTC Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $52.1 | $71.7 | +38% |
| 2021 | $71.7 | $86.9 | +21% |
| 2022 | $86.9 | $27.5 | -68% |
| 2023 | $27.5 | $21.9 | -20% |
| 2024 | $21.9 | $63.3 | +189% |
| 2025 | $63.3 | $76.1 | +20% |
| 2026 YTD | $76.1 | $119.4 | +57% |
SMTC's yearly returns have swung widely, from +189% in 2024 to −68% in 2022. It's up 57% so far in 2026.