Advanced Micro Devices Inc. (NYSE: AMD) is set to report its earnings after the markets close on Thursday. Thomson Reuters has consensus estimates of $0.04 in earnings per share and $1.47 billion in revenue. In the third quarter of the previous year, AMD reported earnings of $0.04 per share and revenue of $1.46 billion. For the fourth quarter, the consensus estimates are $0.05 in earnings per share and $1.48 billion in revenue.

On October 8, the company announced that Rory Read had stepped down as president and chief executive officer. Read also stepped down as member of the board of directors. What will stand out here is that the departure was effective immediately and that the subsequent SEC filing indicates that negotiations are ongoing.

The AMD board of directors has appointed Dr. Lisa Su as president and chief executive officer. Su will also be a member of the board of directors. She joined Advanced Micro Devices in 2012 and was most recently chief operating officer. She was responsible for integrating the company’s business units, sales, global operations and infrastructure enablement teams into what AMD called a single market-facing organization.

Jefferies considers AMD to be a buy, even considering the announcement of the change in CEO. It issued a price target of $6.

Bank of America Merrill Lynch said the new CEO is good choice but that the timing is questionable. It has an Underperform rating on AMD, but it maintained a $4.00 price objective.

Canaccord Genuity has a Buy rating and a $4.50 price target on AMD. The firm said that there is long-term value but noted that headwinds remain during this transition. Canaccord further anticipates PC-exposure of less than 50% by the fourth quarter of 2015, as gaming and embedded sales increase. Still, it noted that AMD is significantly underexposed to the recent enterprise PC strength, and Intel is adding pressure.

Before news of the CEO departure broke, shares were as high as $3.46 in early October. After the CEO stepped down, shares fell roughly 25% to $2.61 to close Wednesday. Investors have been more than confused on how AMD has traded after this departure.

AMD has a consensus analyst price target of $3.91 and a 52-week trading range of $2.54 to $4.80. It has a market cap of $2 billion.

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