In a report released today, Kevin Cassidy from Stifel Nicolaus maintained a Buy rating on Advanced Micro Devices (NASDAQ: AMD), with a price target of $38. The company’s shares closed yesterday at $31.21, close to its 52-week high of $34.14.
According to TipRanks.com, Cassidy is a 5-star analyst with an average return of 21.2% and a 65.1% success rate. Cassidy covers the Consumer Goods sector, focusing on stocks such as Smart Global Holdings Inc, Western Digital, and Microchip.
Currently, the analyst consensus on Advanced Micro Devices is a Moderate Buy with an average price target of $27.18, which is a -12.9% downside from current levels. In a report issued on September 9, Wells Fargo also maintained a Buy rating on the stock with a $34 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 85 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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