In a report released yesterday, Vijay Rakesh from Mizuho Securities upgraded Advanced Micro Devices (AMD – Research Report) to Buy, with a price target of $55.00. The company’s shares closed last Monday at $47.83, close to its 52-week high of $49.39.

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 21.7% and a 65.9% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Cypress Semicon.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Advanced Micro Devices with a $41.03 average price target, implying a -14.3% downside from current levels. In a report issued on December 31, Rosenblatt Securities also maintained a Buy rating on the stock with a $65.00 price target.

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Advanced Micro Devices’ market cap is currently $53.26B and has a P/E ratio of 247.06. The company has a Price to Book ratio of 24.49.

Based on the recent corporate insider activity of 56 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AMD in relation to earlier this year. Most recently, in November 2019, Harry Wolin, the SVP, GC & Corporate Secretary of AMD sold 57,325 shares for a total of $2,303,892.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Advanced Micro Devices, Inc. engages in the provision of semiconductor businesses. It operates through the Computing & Graphics and Enterprise, Embedded & Semi-Custom segments. The Computing and Graphics segment includes desktop and notebook processors and chipsets, and discrete and integrated graphics processing units.