Advanced Micro Devices, Inc. (NASDAQ:AMD) announced a new three-year agreement to expand its strategic partnership with Mentor Graphics Corporation (NASDAQ:MENT). The agreement continues AMD’s relationship with Mentor Graphics, a world leader in electronic hardware and software design solutions, and reinforces AMD’s commitment to offer greater choice for embedded developers when it comes to high-performance x86 architectures.
“We are dedicated to providing the embedded developer ecosystem with options so that they can select the ideal development platform for their specific solutions,” said Scott Aylor, corporate vice president and general manager, AMD Enterprise Solutions. “By partnering with Mentor Graphics, we are giving our customers access to a robust set of Linux® tools and expertise to empower them to build new applications in a variety of vertical segments such as casino gaming, healthcare, industrial and more.”
AMD and Mentor Graphics established an embedded software ecosystem for developers in 2014 to offer powerful open-source tools for building, debugging, analyzing and optimizing embedded software. Customers can download Mentor Embedded Linux Lite and Mentor Embedded Sourcery CodeBench Lite at no charge to promptly start designing new applications and solutions.
“Mentor Graphics looks forward to the next phase in our technology partnership with AMD as we work together to enable our customers’ success in the accelerating embedded market,” said Scot Morrison, general manager, platform business unit, Mentor Graphics Embedded Systems Division. “AMD’s portfolio of innovative embedded solutions combined with Mentor’s long-standing leadership in open source software and tools, allows us to broaden our reach while effectively supporting a growing customer base, helping us to achieve continued success.” (Original Source)
Shares of AMD stock closed last Friday at $8.53, up $0.14 or 1.67%. AMD has a 1-year high of $9.23 and a 1-year low of $1.75. The stock’s 50-day moving average is $6.72 and its 200-day moving average is $5.93.
On the ratings front, AMD stock has been the subject of a number of recent research reports. In a report issued on November 22, MKM Partners analyst Ian Ing reiterated a Buy rating on AMD, with a price target of $10.50, which represents a potential upside of 23% from where the stock is currently trading. Separately, on November 17, Wells Fargo’s David Wong reiterated a Buy rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ian Ing and David Wong have a yearly average return of 27.8% and 19.4% respectively. Ing has a success rate of 68% and is ranked #30 out of 4240 analysts, while Wong has a success rate of 74% and is ranked #44.
Sentiment on the street is mostly neutral on AMD stock. Out of 16 analysts who cover the stock, 9 suggest a Hold rating , 5 suggest a Buy and 2 recommend to Sell the stock. The 12-month average price target assigned to the stock is $7.07, which implies a downside of 17% from current levels.
Advanced Micro Devices, Inc. is a global semiconductor company that develops computer processors and related technologies for business and consumer markets. It design and integrate technology for intelligent devices, including personal computers, game consoles and cloud servers. The company operates through the following segments: Computing and Graphics, and Enterprise, Embedded and Semi-Custom. The Computing and Graphics segment includes desktop, notebook processors, chipsets, discrete GPUs and professional graphics. The Enterprise, Embedded and Semi-Custom segment includes server and embedded processors, dense servers, semi-custom SoC products, engineering services and royalties.