In a report released yesterday, Mark Lipacis from Jefferies maintained a Buy rating on Advanced Micro Devices (NASDAQ: AMD), with a price target of $30. The company’s shares closed on Friday at $25.17, close to its 52-week high of $27.30.
“We raise our 2019 EPS est and our price target following our meeting with management at our annual Chicago Summit. We have higher conviction that in 2H19, AMD will ship a server MPU with higher transistor density than INTC for the first time in recent history, if not ever. We see this as a foundational shift in competitive dynamics. Meanwhile, our checks also suggest that AMD continues to take share in high-end notebooks. AMD remains a top Tectonic Shift pick. Foundational Shift. For most of the past 12 years, Intel has executed near flawlessly, as AMD often stumbled and lost share. Intel’s manufacturing lead led to smaller, cheaper, lower power and higher performance transistors – making it nearly impossible for AMD to reverse its share loss.”
According to TipRanks.com, Lipacis is a top 25 analyst with an average return of 30.3% and a 76.1% success rate. Lipacis covers the Consumer Goods sector, focusing on stocks such as Texas Instruments, Maxim Integrated, and Lattice Semicon.
Advanced Micro Devices has an analyst consensus of Moderate Buy, with a price target consensus of $19.82, representing a -21.3% downside. In a report issued on August 23, Rosenblatt Securities also maintained a Buy rating on the stock with a $30 price target.
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The company has a one-year high of $27.30 and a one-year low of $9.04. Currently, Advanced Micro Devices has an average volume of 80.75M.
Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. Last month, Harry Wolin, the SVP, GC & Corporate Secretary of AMD sold 391,046 shares for a total of $9,678,389.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Advanced Micro Devices, Inc. engages in the provision of semiconductor businesses. It operates through the Computing and Graphics; and Enterprise, Embedded and Semi-Custom segments. The Computing and Graphics segment includes desktop and notebook processors and chipsets, and discrete and integrated graphics processing units.
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