Advanced Micro Devices Price Target Increased to $6.00 by Analysts at FBR Capital Markets (AMD)
Equities research analysts at FBR Capital Markets lifted their target price on shares of Advanced Micro Devices (NYSE:AMD) from $5.50 to $6.00 in a research note issued to investors on Monday, Stock Ratings Network reports. The firm currently has an “outperform” rating on the stock. FBR Capital Markets’ price target would suggest a potential upside of 53.45% from the company’s current price.
The analysts wrote, “Last week at Interop NY, Verizon announced two enterprise infrastructure-as-a-service offerings designed to challenge Amazon Web Services. Details surrounding the announcement lead us to believe that Verizon has chosen SeaMicro microservers to power these platforms and may provide AMD as much as ~$50M in incremental annual revenues. While we reported after our BIG ‘switches’: little SERVERS conference that Verizon had deployed SeaMicro in 12 global datacenters, this announcement signifies a more meaningful commitment, well beyond a trial deployment. In addition to SeaMicro, AMD’s results should be buoyed by the better-than-expected PC market exhibiting resiliency, as our ODM notebook tracker indicates units up 7% sequentially. Furthermore, China has relaxed its national gaming console ban, causing us to increase our 2015 Xbox One and PS4 estimates. Additionally, AMD may have a chance at providing parts for both the MS ‘Bestpad’ and Sony ‘Vita TV.’”
Advanced Micro Devices (NYSE:AMD) traded down 0.51% on Monday, hitting $3.89. The stock had a trading volume of 6,000,963 shares. Advanced Micro Devices has a 52 week low of $1.81 and a 52 week high of $4.65. The stock has a 50-day moving average of $3.69 and a 200-day moving average of $3.58. The company’s market cap is $2.801 billion.
Advanced Micro Devices (NYSE:AMD) last posted its quarterly earnings results on Thursday, July 18th. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.12) by $0.03. The company had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was down 17.9% on a year-over-year basis. Analysts expect that Advanced Micro Devices will post $-0.14 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Ned Davis Research downgraded shares of Advanced Micro Devices from a “neutral” rating to a “sell” rating in a research note to investors on Monday, September 30th. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Advanced Micro Devices in a research note to investors on Wednesday, September 11th. They now have a $6.00 price target on the stock. Finally, analysts at Wells Fargo & Co. reiterated an “outperform” rating on shares of Advanced Micro Devices in a research note to investors on Monday, August 5th. Seven analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $4.34.
Advanced Micro Devices, Inc (NYSE:AMD) is a global semiconductor company with facilities around the world.
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