In a report released today, Rick Schafer from Oppenheimer maintained a Hold rating on Advanced Micro Devices (NASDAQ: AMD). The company’s shares closed yesterday at $22.79.

Schafer said:

“AMD reported mixed results $1.65B/$0.13, vs. Street’s $1.7B/$0.12E. 4Q sales outlook at $1.45B also missed vs. consensus $1.6B. Mgmt attributed weakness to GPU inventory excess associated with anemic crypto mining sales. Softer semi-custom, reflecting an aging gaming console market, is another downside revenue driver, though obviously mix accretive. On a bright note, GM improved 280bps Q/Q to 40% as mix increasingly favors new Epyc products vs. mining/semi-custom. We see this mix improvement as sustainable. Mgmt hasn’t seen customer order pull-ins or other tariff-related impact. We’re lowering our below-Street CY19 estimates to reflect mgmt’s tempered outlook. With much of the 2019 CPU share gain story baked in and EPS upside limited, we remain sidelined.”

According to TipRanks.com, Schafer is a 5-star analyst with an average return of 13.7% and a 63.2% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as Akoustis Technologies, Texas Instruments, and Maxim Integrated.

Advanced Micro Devices has an analyst consensus of Moderate Buy, with a price target consensus of $28.73, implying a 26.1% upside from current levels. In a report issued on October 23, Barclays also upgraded the stock to Hold with a $25 price target.

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Based on Advanced Micro Devices’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.76 billion and net profit of $116 million. In comparison, last year the company earned revenue of $1.64 billion and had a net profit of $71 million.

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. Most recently, in August 2018, Harry Wolin, the SVP, GC & Corporate Secretary of AMD sold 391,046 shares for a total of $9,678,389.

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 and Graphics; and Enterprise, Embedded and Semi-Custom segments. The Computing and Graphics segment includes desktop and notebook processors and chipsets, and discrete and integrated graphics processing units.

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