Mizuho Securities Remains Sidelined on Advanced Micro Devices (AMD) Following 3Q Beat

October 21, 2016 9:32 AM EDT
Get Alerts AMD Hot Sheet
Price: $10.49 +9.73%

Rating Summary:
    11 Buy, 16 Hold, 7 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 20 | Down: 18 | New: 19
Trade AMD Now!
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

Mizuho Securities reiterated a Neutral rating and $7.00 price target on Advanced Micro Devices (NASDAQ: AMD) following the company's 3Q earnings report. AMD reported 3Q16 revenue and EPS of $1.3B and $0.03 (versus consensus of $1.2B/$0.00).

Analyst Vijay Rakesh commented, "AMD reported 3Q16 Rev/EPS inline with consensus. Strength was driven by 41% q/q Embedded/Semi-Custom growth with the Xbox One, PS4, and PS4 Pro, and 9% q/q growth in Computing/Graphics. But AMD guided the DecQ down 18% q/q despite an extra week in the quarter. We believe the modest improvement in GM implies 200-300bps+ of CG GM pricing pressure in 2H16. Zen for servers is expected in 2Q17. During the quarter, AMD improved its balance sheet and cash position. Adjusting our estimates and maintaining our Neutral and $7 PT."

For an analyst ratings summary and ratings history on AMD click here. For more ratings news on AMD click here.

Shares of AMD closed at $6.96 yesterday.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Analyst Comments, Analyst EPS View

Related Entities

Earnings

Add Your Comment