Advanced Micro Devices (AMD) Misses Q3 EPS by 5c, Offers Q4 Guidance

Mizuho Securities Remains Neutral on Advanced Micro Devices (AMD) Following Earnings Results

October 16, 2015 7:08 AM EDT

Mizuho Securities reiterated a Neutral rating and $2.00 price target on AMD (NASDAQ: AMD) following the company's 3Q15 earnings results. AMD reported 3Q15 Rev/EPS at $1.1B/($0.19), with a better topline versus consensus of $996M/($0.12). The company expects Enterprise to be significantly down next... More

AMD to sell some testing operations, gives weak revenue forecast

October 15, 2015 4:29 PM EDT

By Sai Sachin R

(Reuters) - Advanced Micro Devices Inc said on Thursday it would sell most of its assembly and testing operations in two Asian cities, as the struggling chipmaker looks to cut spending amid weak demand for its processors for personal computer.

AMD said it will sell 85 percent of its ATMP (assembly, test, mark and pack) operations in Suzhou, China and Penang, Malaysia to China's Nantong Fujitsu Microelectronics Co Ltd (NFME) for a net proceeds of $320 million.

The company also said it would create a joint... More

AMD (AMD), Nantong Fujitsu Microelectronics Enter ATMP Joint Venture

October 15, 2015 4:17 PM EDT

Advanced Micro Devices (NASDAQ: AMD) and Nantong Fujitsu Microelectronics Co., Ltd announced the signing of a definitive agreement to create a joint venture combining AMD's high-volume assembly, test, mark, and pack (ATMP) facilities and experienced workforce in Penang, Malaysia and Suzhou, China with NFME's established outsourced semiconductor assembly and test (OSAT) expertise. Upon close, the new business will leverage the capabilities of 5 facilities and approximately 5,800 employees to offer differentiated ATMP capabilities and scale to service a broad range of customers. The transaction is expected to close in the first half of 2016, pending successful completion... More