Advanced Micro Devices Inc. has agreed to acquire Pensando for $1.9 billion. Pensando distributed services platform included a high-performance, fully programmable packet processor, and comprehensive software stack that accelerate networking, security, storage, and other services for cloud, enterprise, and edge applications. AMD Chair and CEO Dr. Lisa Su said, “Today, with our acquisition of Pensando, we add…

Competitor downgrade on 2023 cyclical issues, potential consumer weakness in PCs and mobile, and a possible price war with Intel Corp drove Advanced Micro Devices Inc shares’ weakness, Rosenblatt analyst Hans Mosesmann said. Barclays recently downgraded the rating on AMD, citing looming cyclical risks in 2023 across several end markets. However, Mosesmann contends that AMD is not in jeopardy of missing its…

Advanced Micro Devices, Inc. shares are advancing on Tuesday, bucking the broader market downturn catalyzed by the escalating tensions between Russia and Ukraine. The strength seen in the shares came after an analyst at Bernstein took a bullish stance on the stock after 10 years. The AMD Analyst Bernstein analyst Stacy Rasgon upgraded AMD shares from…

Texas is suing Facebook parent Meta, accusing it of illegally collecting facial recognition data without consent. The Heritage Foundation says America’s economic freedom is eroding. In the biggest deal ever in the semiconductor industry, chip giant AMD is buying up Xilinx in a $50 billion deal. We visit a New York City chocolate maker for…

On Thursday evening, Benzinga asked its followers on Twitter what they’re buying at the open on Friday. Benzinga selected one ticker from the replies for a technical analysis. @josht543 and @Nena5804095 are buying Advanced Micro Devices Inc. On Tuesday, AMD reported earnings per share of 92 cents on revenue of $4.826 billion, which beat the Street…

U.S. shares were set to extend gains for the fourth straight session on Wednesday after a turbulent start to the year, as Google-parent Alphabet and chipmaker Advanced Micro Devices’ shares surged following strong quarterly results. Alphabet Inc. rose 8.2 percent after reporting record quarterly sales on Tuesday, and said it plans to undertake a 20-to-one…

The Nasdaq opened higher on Wednesday, extending gains for the fourth straight session after a turbulent start to the year, as Google-parent Alphabet and chipmaker Advanced Micro Devices’ stocks surged following strong quarterly results. The Dow Jones Industrial Average fell 27.0 points, or 0.08 percent, at the open to 35378.19. The S&P 500 rose 19.9…

Piper Sandler analyst Harsh Kumar downgraded Advanced Micro Devices Inc. to Neutral from Overweight with a price target of $130, down from $140. The analyst is cautious on the broader automotive sector, saying the pace of orders and strong pricing “may come into question” as supply normalizes in the second half of 2022. The price target implies that the…

Cowenanalyst Matthew Ramsay raised the price target on Advanced Micro Devices Inc to $150 from $145 and reiterated an Outperform rating on the shares. The price target implies an upside of 12 percent. The analyst told investors not to overlook its organic strength despite the deal delay. He said it shouldn’t distract from what remains one of the best…

Chip firm Advanced Micro Devices Inc. agreed to acquire about $2.1 billion of silicon wafers from GlobalFoundries Inc. from 2022 through 2025. Previously, AMD agreed to buy $1.6 billion worth of chips between 2022 and 2024. AMD spun off its chip factory operations in 2009, leading to GlobalFoundries, and has supplied AMD since then, Reuters reports. However, GlobalFoundries in…