Baird Reiterates Outperform on Advanced Micro Devices (AMD) Following 2Q Report
Baird reiterated an Outperform rating and $20.00 price target on Advanced Micro Devices Inc. (NASDAQ: AMD) following the company's 2Q report. 2Q18 non-GAAP EPS was $0.14, slightly above consensus of $0.13. Revenue was $1.76 billion, near the high end of the $1.675-$1.775 billion guidance and up 6.6% sequentially.
The midpoint of 3Q18 revenue guidance of $1.70 billion is below consensus of $1.76 billion. 3Q18 gross margin guidance of 38% is above consensus of 37.7%.
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Shares of AMD closed at $16.05 yesterday.