Advanced Micro Devices (AMD) Received its Third Buy in a Row


After Rosenblatt Securities and Wells Fargo gave Advanced Micro Devices (NASDAQ: AMD) a Buy rating last month, the company received another Buy, this time from Nomura. Analyst David Wong maintained a Buy rating on Advanced Micro Devices today and set a price target of $58.00. The company’s shares closed last Monday at $50.35, close to its 52-week high of $52.81.

According to TipRanks.com, Wong is a 5-star analyst with an average return of 19.5% and a 75.2% success rate. Wong covers the Consumer Goods sector, focusing on stocks such as Applied Materials, Texas Instruments, and Kla-Tencor.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Advanced Micro Devices with a $44.18 average price target, implying a -15.5% downside from current levels. In a report issued on January 21, Cowen & Co. also maintained a Buy rating on the stock with a $60.00 price target.

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Based on Advanced Micro Devices’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $1.8 billion and net profit of $120 million. In comparison, last year the company earned revenue of $1.42 billion and had a net profit of $38 million.

Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMD in relation to earlier this year. Most recently, in November 2019, Harry Wolin, the SVP, GC & Corporate Secretary of AMD sold 57,325 shares for a total of $2,303,892.

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 & Graphics and Enterprise, Embedded & 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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