In a report issued on January 6, Vijay Rakesh from Mizuho Securities maintained a Buy rating on Advanced Micro Devices (AMD), with a price target of $102.00. The company’s shares closed last Tuesday at $95.36, close to its 52-week high of $99.23.
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 27.1% and a 71.2% success rate. Rakesh covers the Technology sector, focusing on stocks such as Allegro MicroSystems, NXP Semiconductors, and Skyworks Solutions.
Currently, the analyst consensus on Advanced Micro Devices is a Moderate Buy with an average price target of $95.63, implying a -2.3% downside from current levels. In a report issued on January 4, Rosenblatt Securities also maintained a Buy rating on the stock with a $120.00 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 $2.8 billion and net profit of $390 million. In comparison, last year the company earned revenue of $1.8 billion and had a net profit of $120 million.
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Advanced Micro Devices, Inc. engages in the provision of semiconductor businesses. It operates through the following segments: Computing & Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units, data center and professional GPUs and development services. The Enterprise, Embedded and Semi-Custom segment includes server and embedded processors, semi-custom System-on-Chip products, development services and technology for game consoles. The company was founded by W. J. Sanders III on May 1, 1969 and is headquartered in Santa Clara, CA.