Mizuho Securities analyst Vijay Rakesh maintained a Buy rating on Advanced Micro Devices (NASDAQ: AMD) today and set a price target of $36. The company’s shares closed yesterday at $32.43, close to its 52-week high of $34.14.
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 25.4% and a 64.5% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Cypress Semicon.
Advanced Micro Devices has an analyst consensus of Moderate Buy, with a price target consensus of $23.84, which is a -26.5% downside from current levels. In a report issued on September 3, Jefferies also maintained a Buy rating on the stock with a $30 price target.
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Based on Advanced Micro Devices’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.76 billion and net profit of $116 million. In comparison, last year the company earned revenue of $1.22 billion and had a GAAP net loss of $16 million.
Based on the recent corporate insider activity of 82 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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