Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Piper Jaffray: AMD ‘More Or Less Fully Valued’

Courtesy of Benzinga

Piper Jaffray: AMD 'More Or Less Fully Valued'

Advanced Micro Devices, Inc. (NASDAQ: AMD) has an “exciting” product portfolio, but the recent rise in the semiconductor company’s share price is keeping Piper Jaffray on the sidelines.

The Analyst

Harsh Kumar started coverage of Advanced Micro Devices with a Neutral rating and $33 price target.

The Thesis

Piper Jaffray views the company’s product positioning and financial leverage favorably, citing a “steady cadence of innovative products” in long-term growth markets like data centers and gaming, Kumar said in the Monday initiation note. (See his track record here.)

“As the company releases these innovative products, it should drive gross margin leverage and provide operating leverage as revenue growth outpaces operating expense growth,” the analyst said. 

But the shares are trading up 69% year-to-date, with the semiconductor sector index up less than 30% over the same period. And semiconductor companies may be vulnerable to China trade tensions, he said. 

“Given the stock’s recent appreciation … and the current macro/ geopolitical environment, we see the stock as more or less fully valued.”

Price Action

AMD shares were trading up 1.54% at $31.66 at the time of publication Monday. 

Related Links:

Crazy Action In AMD Options As Traders Take Sides In Volatile Market

Analyst: Google Cloud Could Drop Intel For AMD

Latest Ratings for AMD

Date Firm Action From To
Aug 2019 Initiates Coverage On Neutral
Aug 2019 Initiates Coverage On Hold
Aug 2019 Initiates Coverage On Hold

View More Analyst Ratings for AMD


View the Latest Analyst Ratings

Posted-In: Harsh Kumar Piper Jaffray semiconductorsAnalyst Color Price Target Initiation Top Stories Analyst Ratings Best of Benzinga


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!