Wells Fargo Believes Advanced Micro Devices (NASDAQ: AMD) Won’t Stop Here

In a report released yesterday, David Wong from Wells Fargo maintained a Buy rating on Advanced Micro Devices (NASDAQ: AMD). The company’s shares closed on Friday at $27.38, close to its 52-week high of $29.94.

Wong has an average return of 44.6% when recommending Advanced Micro Devices.

According to TipRanks.com, Wong is ranked #266 out of 4872 analysts.

Currently, the analyst consensus on Advanced Micro Devices is a Moderate Buy with an average price target of $20.12, implying a -26.5% downside from current levels. In a report issued on September 3, Jefferies also maintained a Buy rating on the stock with a $30 price target.

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The company has a one-year high of $29.94 and a one-year low of $9.04. Currently, Advanced Micro Devices has an average volume of 86.87M.

Based on the recent corporate insider activity of 83 insiders, corporate insider sentiment is negative on the stock. Last month, 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.