Advanced Micro to Shift Listing from NYSE to Nasdaq - Analyst Blog

Chipmaker Advanced Micro Devices (AMD) recently announced its voluntary transfer of stock exchange listing from The New York Stock Exchange ("NYSE") to the NASDAQ (National Association of Securities Dealers Automated Quotations) Stock Market.

Shares of Advanced Micro will cease to trade on NYSE at the closing bell on Dec 31, 2014. Its shares are expected to commence trading on NASDAQ from Jan 2, 2015 with the same ticker symbol, AMD.

NASDAQ, popularly recognized as the leading exchange for growth-oriented technology companies, is the second largest stock exchange after NYSE. The company believes the transfer will be absolutely hassle-free for its investors and that they will continue to enjoy uninterrupted trading on NASDAQ.

In October, the company reported weak third-quarter 2014 results with both top- and bottom-line figures missing the Zacks Consensus Estimate due to ongoing weakness in the PC market. AMD's focus on the consumer side has worked against it as most of the recent improvement has been on the enterprise side. But the company has been diversifying into game consoles and is also using ARM architecture to pursue opportunities on the server side.

AMD, founded in 1969, is a leading worldwide designer, manufacturer and marketer of microprocessor solutions for the computing, communications and consumer electronics markets. Its solutions include embedded microprocessors for personal connectivity devices and other consumer markets. The microprocessor products are used in desktop and mobile personal computers, servers and workstations, and chipset products. It debuted on the NYSE in 1979.

Advanced Micro currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the same industry include Avago Technologies Ltd (AVGO), AXT Inc. (AXTI) and FormFactor Inc. (FORM). While Avago Technologies and AXT both sport a Zacks Rank #1 (Strong Buy), FormFactor carries a Zacks Rank #2 (Buy).