Advanced Micro Devices (NYSE:AMD) Gets Ratings Cut on Fears of Pc Demand Fall - CY, FSL, CAVM

Pompano Beach, FL -- (SBWIRE) -- 01/31/2013 -- On Thursday, Advanced Micro Devices (NYSE:AMD), a user of the rapidly-growing GlobalFoundries computer chip maker, witnesses rating downgrading.

AMD (AMD), the California-located firm from which GlobalFoundries divested in 2009, had its Fitch Rating decline three spots additional into junk status, as per reported by a Marketwatch report.

Is AMD a Solid Investment at These Levels? Read This Report For Details

The rating cut from B to CCC arrives as AMD (NYSE:AMD) tries to enhance its financial base among a declining PC market.

AMD announced a higher fourth-quarter loss in the start of this month ($473 million), and in October declared that it intended to restructure the firm and lower 15 percent of its labor force, as per reported by the Silicon Valley Business Journal, a sister publication of The Business Review.

At the current trading session, Advanced Micro Devices, Inc. (NYSE:AMD) shares are down -3.58% to $2.56 while the stocks are trading within the range of $2.45 – $2.71. In the past year, the stock has traded within a range of $1.81 – $8.35. Average daily trading volume is 25.57 million shares.

Will AMD Get Buyers Even After The Recent Rally? Find Out Here

If we look at a few other stocks within industry, Cypress Semiconductor Corporation, Freescale Semiconductor Ltd and Cavium Inc are in the gainers list. Let’s have a quick look on their Market performance.

Cypress Semiconductor Corporation (NASDAQ:CY) shares are up +1.30% to $10.13 while the stock is trading within the range of $10.03 – $10.28 in the current trading session. In the last 12 months the shares have traded between $8.70 and $18.99. The average daily trading volume is 2.91 million shares.

For How Long CY’s Gloss will Attract Investors? Find out via this report

Freescale Semiconductor Ltd (NYSE:FSL) shares in the current session moved up +3.58% reaching $14.74. The stocks are trading in a range of $14.25 – $14.74. In the last year the stock has moved within a range of $7.63 – $17.84. The Company’s average daily trading volume is 1.13 million shares.

What was the Moving Force behind FSL On Bullish Run? Read This Research Report

Another rival company, Cavium Inc (NASDAQ:CAVM), is trading up +1.96% to $32.52. Intraday trading recorded the stock price in a range of $31.90 to $32.65. In the previous 52 weeks the stock’s price ranged between $22.30 and $38.67. Their average daily trading volume is 1.05 million shares.

For How Long CAVM will Fight for Profitability? Read This Trend Analysis report

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