Advanced Micro Devices, Inc. (AMD) Stock Trades Up Even After Confirmed Delay of ‘Gemini” Video Card


Advanced Micro Devices, Inc. (NASDAQ:AMD) shares are trading up today in afternoon trading, even amid the company confirming that they have delayed the release of their Radeon graphics card with dual Fiji GPUs (codenamed Gemini) until sometime in 2016.

Advanced Micro Devices, Inc. (NASDAQ:AMD) said that they will be aligning the release of the much anticipated card with the release of their head-mounted displays, which should be available in the early second quarter of 2016, after being delayed as well. There have been working versions of the Gemini cards shipped out to some of the company’s B2B customers and so far their reactions have been “very positive”.

The stock is up 2.89% or $0.08 following the news, hitting $2.85 per share. About 20.07M shares traded hands or up 126.52% from the average. AMD has risen 19.40% since May 20, 2015 and is currently uptrending. It has outperformed the S&P500 by 21.66%.

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 -28.77% below today’s ($2.85) 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 dived, 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 $2.14 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.