Advanced Micro Devices, Inc. Shares Cautiously Higher on Back of 4Q:17 Results
Chip giant Advanced Micro Devices, Inc. (NASDAQ:AMD) has spent 2017 steadily rolling out new products that offered impressive performance for personal computers, servers, and cloud data centers. In the fourth quarter, that translated into overall revenue growth of 33% and net income of $61 million.
Wall Street seems to be cautiously optimistic with those financial results, sending shares climbing nearly 1% in after-hours trading Tuesday.
AMD CEO Dr. Lisa Su commented, “2017 marked a key inflection point for AMD as we re-shaped our product portfolio, delivered 25 percent annual revenue growth, expanded gross margin and achieved full-year profitability […] We are even more excited about 2018 as we launch our next wave of high-performance products and continue to position AMD as one of the premier long-term growth companies in the technology industry.”
On the ratings front, AMD has been the subject of a number of recent research reports. In a report released today, MKM Partners analyst Ruben Roy reiterated a Buy rating on AMD, with a price target of $14.50, which represents a potential upside of 11% from where the stock is currently trading. On the other hand, Susquehanna’s Christopher Rolland reiterated a Hold rating on the stock yesterday, with a price target of $13.00.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ruben Roy and Christopher Rolland have a yearly average return of 12.5% and 12.8% respectively. Roy has a success rate of 66% and is ranked #580 out of 4759 analysts, while Rolland has a success rate of 68% and is ranked #282.
Overall, out of the 23 analysts polled in the past 12 months, 9 rate AMD stock a Buy, 10 rate the stock a Hold and 4 recommend a Sell. With a return potential of 11%, the stock’s consensus target price stands at $14.24.