Advanced Micro Devices Now A 'Hold,' Following 22% Decline, Vetr Crowd Says

Shares of Advanced Micro Devices, Inc. AMD have more than doubled since the beginning of the year, even though they tumbled almost 22 percent over the past week.

The most recent decline, however, has unlocked some room for upside, the Vetr crowd seems to believe, as evidenced by its average price target of $6.13. This target implies a potential return of roughly 3.35 percent from current valuations.

Related Link: Here's How Crowdsourced Ratings Can Beat The Market

Seeking to better reflect the small upside potential, the Vetr crowd decided to upgrade its rating on shares of Advanced Micro Devices on Monday, from 1.5 stars (Strong Sell) to 3.0 stars (Hold) — out of a possible five-star rating.

It should be noted that 70 percent of the crowd’s ratings remain bearish at the time, meaning that those bullish are particularly optimistic regarding where the stock is going next.

Disclosure: Javier Hasse holds no interest in any of the securities or entities mentioned above.