In recognition of its transformational impact across the computing industry following the launch of the Ryzen family of processors, Advanced Micro Devices (NASDAQ:AMD) was named the Company of the Year for 2018 by PCR at their annul event in London, UK.
“The PCR Company of the Year Award is designed to recognize a company that in 2017 delivered a truly transformative year, and AMD certainly fits the bill. After an extraordinary turnaround over the past three years, AMD has completely re-opened and disrupted the components market with the launch of its AMD Ryzen and Ryzen Threadripper CPUs, along with its array of graphics card options that are compelling in both capabilities and pricing. AMD’s strategy is a true example of how rethinking and taking risks is what this industry needs,” said PCR Editor Jonathan Easton.
“AMD Ryzen processors started a new era in high-performance computing PCs, delivering unprecedented levels of performance to consumers and businesses around the world,” said AMD Corporate Vice President Global Computing and Graphics Sales and President EMEA Darren Grasby. “We’re thrilled at the overwhelmingly positive response received from the PCR editorial team and the channel who have recognized AMD for delivering industry-changing products for businesses, enthusiasts, creators and gamers.
Shares of AMD closed today at 10.09, up $0.16 or 1.61%. AMD has a 1-year high of $15.65 and a 1-year low of $9.04. The stock’s 50-day moving average is $10.92 and its 200-day moving average is $11.64.
On the ratings front, AMD has been the subject of a number of recent research reports. In a report released today, Mizuho analyst Vijay Rakesh maintained a Buy rating on AMD, with a price target of $17, which represents a potential upside of 68% from where the stock is currently trading. Separately, on April 13, Wells Fargo’s David Wong reiterated a Buy rating on the stock and has a price target of $18.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Vijay Rakesh and David Wong have a yearly average return of 30.8% and 17.7% respectively. Rakesh has a success rate of 76% and is ranked #12 out of 4771 analysts, while Wong has a success rate of 72% and is ranked #199.