Advanced Micro Devices Analyst Roundup

Advanced Micro Devices, Inc. AMD disappointed investors Thursday with its 3Q results and news that it will cut its workforce by 7 percent.

Here is what analysts thought after the announcement.

Pacific Crest - Sector Perform, No Price Target

"Given the significant reset of consensus estimates for 4Q14 and 2015, new company leadership and prospects in both the embedded and ARM server market in 2015-2016, we believe risk/reward on the shares is now balanced."

Canaccord - Hold, $2.75 Price Target

Felt "required to wait for tangible signs of core business stability before recommending AMD shares."

Jefferies - Buy, $5.00 Price Target

"The transition is painful, but we like the risk/reward."

FBR - Market Perform, $3.50 Price Target

"Given the recent drop in share price over the past few months, we believe this was a highly anticipated disappointment. Therefore, we believe much of the damage is likely already embedded in the current stock price."

Macquarie - Neutral, $4.00 Price Target

"With record low share in both microprocessors and discrete graphics and decelerating gaming sales, AMD’s business faces several challenges to return to growth in CY15. However the company announced another significant restructuring, which should keep the company from burning significant cash until new growth initiatives (ARM servers, new semi-custom wins) have a chance to ramp in 2016."

Deutsche Bank - Hold, $2.75 Price Target

"While we applaud the co for taking difficult steps, we continue to believe it faces a number of challenges that will prove difficult to overcome in 2015, specifically a slow-growth market and formidable competitive pressure from Intel."

Advanced Micro Devices, Inc. closed at $2.72, up 3 percent.