Shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) are down over 8% in morning trading to start off the new year. Certainly this isn’t what those investors who are long in the stock were hoping for. This move to the downside is a bit surprising especially with CES 2016 coming next week.
Advanced Micro Devices, Inc. (NASDAQ:AMD) just today showed off their new 14nm FinFET Polaris GPU architecture, but apparently this wasn’t enough to get investors all that excited about what 2016 has in store for the company.
The stock is down 8.01% or $0.23 following the news, hitting $2.64 per share. Approximately 10.30M shares traded hands. AMD shares have risen 25.88% since May 29, 2015 and are currently uptrending. It has outperformed the S&P500 by 28.00%.
From a total of 3 analysts covering Advanced Micro (NASDAQ:AMD) stock, 1 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 33% of the ratings are positive. The highest target price is $2.05 while the lowest target price is $2.0. The mean of all analyst targets is $2.03 which is -23.11% below today’s ($2.64) stock price. Advanced Micro was the topic of 3 analyst reports since August 13, 2015 according to the firm StockzIntelligence Inc. Vetr upgraded shares on September 22 to a “Strong-Buy” rating. Topeka Capital Markets initiated AMD stock in a recent report from August 13 with a “Hold” rating.
The institutional sentiment decreased to 0.63 in Q2 2015. It’s down 0.42, from 1.05 in 2015Q2. The ratio fall, as 38 funds sold all their Advanced Micro Devices, Inc. shares they owned while 73 reduced their positions. 23 funds bought stakes while 47 increased their total positions. Institutions now own 293.84 million shares which is 8.23% less than the previous share count of 320.18 million in 2015Q2.
Shanda Payment Holdings Ltd. holds 9.11% of its total portfolio in Advanced Micro Devices, Inc., equating to 6.08 million shares. Mcglinn Capital Management Inc owns 91,600 shares representing 0.48% of their total US portfolio. Moreover, Two Sigma Securities Llc has 0.47% of their total portfolio invested in the company, equating to 174,607 shares. The New York-based Stone Ridge Asset Management Llc has a total of 0.32% of their portfolio invested in the stock. Chicago Equity Partners Llc, a Illinois-based fund reported 5.61 million shares owned.
Advanced Micro Devices, Inc. is a global semiconductor firm with facilities across the world. The company has a market cap of $2.16 billion. The Firm offers x86 microprocessors, as standalone devices or as incorporated as an accelerated processing unit , chipsets, discrete graphics processing units (GPUs) and professional graphics, and server and embedded processors, dense servers, semi-custom System-on-Chip (SoC) products and technology for game consoles. It currently has negative earnings. The Firm operates in two divisions: the Computing and Graphics segment, which includes desktop and notebook processors and chipsets, discrete GPUs and professional graphics, and the Enterprise, Embedded and Semi-Custom segment, which includes server and embedded processors, dense servers, semi-custom SoC products, engineering services and royalties.