Advanced Micro Devices, Inc. (NASDAQ:AMD) announced that Jim Anderson (43) has joined the company as senior vice president and general manager of AMD’s Computing and Graphics (CG) business group, reporting to President and CEO Dr. Lisa Su. Anderson will be responsible for managing all aspects of strategy, business management, engineering, and sales for AMD’s computing and graphics products and solutions.
“Jim’s business and technical expertise make him another strong addition to AMD’s leadership team,” said Dr. Su. “His deep industry knowledge and proven ability to transform businesses to drive profitable growth make him the ideal candidate to lead the Computing and Graphics business.”
Anderson joins AMD from Intel Corporation where he completed the acquisition and successful integration of the Axxia processor business from Avago Technologies to Intel. Anderson spent the last decade at Avago Technologies and LSI Corporation in a variety of leadership positions spanning strategic planning, marketing, engineering, sales, and general management. Prior to LSI, Anderson held strategic planning roles at Intel Corporation for mobile/laptop and server processors in addition to serving as a microprocessor architect.
Throughout his career, Anderson has consistently demonstrated an ability to transform businesses to achieve significant revenue growth based on developing a holistic strategy across hardware and software engineering, marketing, product management, and customer service functions.
Anderson holds numerous academic degrees, including an MBA and Master of Science in electrical engineering and computer science from the Massachusetts Institute of Technology. He also holds a Master of Science in electrical engineering from Purdue University and a Bachelor of Science in electrical engineering from the University of Minnesota. Anderson has received four patents for innovations in computer architecture. He is based in Sunnyvale, California. (Original Source)
Shares of Advanced Micro Devices closed today at $2.26, down $0.02 or 0.88%. AMD has a 1-year high of $4.80 and a 1-year low of $2.14. The stock’s 50-day moving average is $2.37 and its 200-day moving average is $2.65.
On the ratings front, Advanced Micro Devices has been the subject of a number of recent research reports. In a report issued on May 15, Morgan Stanley analyst Joseph Moore maintained a Sell rating on AMD, with a price target of $2.25, which represents a slight downside potential from current levels. Separately, on May 7, Deutsche Bank’s Ross Seymore reiterated a Hold rating on the stock and has a price target of $2.50.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joseph Moore and Ross Seymore have a total average return of 12.4% and 32.7% respectively. Moore has a success rate of 57.4% and is ranked #525 out of 3610 analysts, while Seymore has a success rate of 81.3% and is ranked #26.
Overall, 3 research analysts have rated the stock with a Sell rating, 7 research analysts have assigned a Hold rating and 3 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 $2.84 which is 24.0% above where the stock opened today.
Advanced Micro Devices Inc is a semiconductor company with facilities around the world. It operates in two segments: Computing Solutions and Graphics and Visual Solutions.