Advanced Micro Devices, Inc. (NASDAQ:AMD) announced that its Board of Directors has appointed Board member John Caldwell as Chairman. Caldwell succeeds Bruce Claflin as Chairman of the Board. Claflin has been Chairman of the Board since March 2009 and will continue to serve as an AMD Board member.
“I am honored to be named chairman of AMD’s Board,” said John Caldwell. “It is an exciting time to be part of AMD as we execute on our transformative strategy — bringing innovative products to market and delivering increased value to our shareholders. On behalf of our Board of Directors, I would like to recognize Bruce Claflin for his leadership and for his continuing contribution to our company.”
Caldwell joined AMD’s Board in 2006 and has held a variety of Committee positions including most recently Compensation and Leadership Resources Committee Chair and Nominating and Corporate Governance Committee membership. Caldwell brings extensive board and executive level experience. In his career, he has served as a CEO of three technology companies and been on the board of seven public technology companies. (Original Source)
Shares of AMD closed today at $3.59, down $0.06 or -1.64%. AMD has a 1-year high of $3.99 and a 1-year low of $1.61. The stock’s 50-day moving average is $3.12 and its 200-day moving average is $2.49.
On the ratings front, AMD has been the subject of a number of recent research reports. In a report released today, Wells Fargo analyst David Wong reiterated a Buy rating on AMD, with a price target of $4.25, which represents a potential upside of 16.4% from where the stock is currently trading. Separately, on April 27, Morgan Stanley’s Joseph Moore reiterated a Sell rating on the stock and has a price target of $2.65.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Wong and Joseph Moore have a total average return of 10.0% and 6.0% respectively. Wong has a success rate of 64.1% and is ranked #256 out of 3845 analysts, while Moore has a success rate of 53.3% and is ranked #607.
Overall, 3 research analysts have rated the stock with a Sell rating, 8 research analysts have assigned a Hold rating and 4 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $3.38 which is -7.4% under where the stock opened today.
Advanced Micro Devices, Inc. is a global semiconductor company that develops computer processors and related technologies for business and consumer markets. It design and integrate technology for intelligent devices, including personal computers, game consoles and cloud servers. The company operates through two business segments: Computing and Graphics Solutions, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop, notebook processors, chipsets, discrete GPUs and professional graphics. The Enterprise, Embedded and Semi-Custom segment includes server and embedded processors, dense servers, semi-custom SoC products, engineering services and royalties. Advanced Micro Devices was founded by W. J. Sanders III and David John Carey on May 1, 1969 and is headquartered in Sunnyvale, CA.
