Advanced Micro Devices, Inc. (NASDAQ:AMD) announced the acquisition of software company HiAlgo Inc., a developer of unique PC gaming technologies designed to help Radeon™ RX Series GPUs transform gaming experience, increase GPU efficiency and improve the overall consistency of gaming experiences. The acquisition lays the groundwork for future gaming innovation in Radeon Software that will benefit owners of Radeon™ RX Series GPUs.

“Software is an integral part of advancing the science of graphics, enabling us to best harness the silicon of the GPU to maximize performance and deliver outstanding experiences in games and applications,” said Raja Koduri, senior vice president and chief architect, Radeon Technologies Group, AMD. “HiAlgo embodies our spirit of passion, persistence and play by delivering a number of creative approaches to software that improve gamers’ experiences, and helps future-proof1 the GPU.”

Radeon Software enables the ultimate in performance, features and stability of Radeon™ graphics to ensure an exceptional user experience. Today, launching alongside the Radeon™ RX 480 graphics card are nine new features of Radeon Software Crimson Edition designed to give users more control over their computing experience, including multi-GPU, display, and power efficiency settings, and a redefined overclocking tool in Radeon WattMan2. (Original Source)

Shares of AMD are up 4% to $5.33 in pre-market trading. AMD has a 1-year high of $5.52 and a 1-year low of $1.61. The stock’s 50-day moving average is $4.38 and its 200-day moving average is $3.03.

On the ratings front, AMD has been the subject of a number of recent research reports. In a report issued on June 16, Canaccord Genuity analyst Matt Ramsay reiterated a Buy rating on AMD, with a price target of $6, which implies an upside of 17% from current levels. Separately, on June 15, Morgan Stanley’s Joseph Moore reiterated a Sell rating on the stock and has a price target of $2.65.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Matt Ramsay and Joseph Moore have a total average return of -4.1% and 4.7% respectively. Ramsay has a success rate of 39.9% and is ranked #3528 out of 3980 analysts, while Moore has a success rate of 56.1% and is ranked #663.

Overall, 3 research analysts have rated the stock with a Sell rating, 4 research analysts have assigned a Hold rating and 5 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $3.79 which is -26.0% under where the stock closed yesterday.

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.