Jefferies Keeps a Buy Rating on Advanced Micro Devices

By Ryan Adsit

In a report released yesterday, Mark Lipacis from Jefferies reiterated a Buy rating on Advanced Micro Devices (NASDAQ: AMD), with a price target of $16. The company’s shares opened today at $10.93.

According to TipRanks.com, Lipacis is a top 25 analyst with an average return of 30.2% and a 81.3% success rate. Lipacis covers the Technology sector, focusing on stocks such as Activision Blizzard, M/A-Com Technology, and NXP Semiconductors.

Currently, the analyst consensus on Advanced Micro Devices is Hold and the average price target is $11.70, representing a 7.0% upside.

In a report issued on May 17, Wells Fargo also reiterated a Buy rating on the stock with a $15 price target.

The company has a one year high of $15.55 and a one year low of $4.08. Currently, Advanced Micro Devices has an average volume of 67.66M.

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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. It 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. The company was founded by W. J. Sanders III and David John Carey on May 1, 1969 and is headquartered in Sunnyvale, CA.