NEW YORK (TheStreet) -- Advanced Micro Devices (AMD) rose Thursday after the chipmaker announced it would reorganize, created a new chief operating officer position and named Lisa Su to that position.
AMD said it would merge its global business divisions, sales and operations into one unit, which Su will lead. Su served as AMD's general manager for global business units. AMD also consolidated its business units into two groups focused on "traditional PC markets" and the other on "adjacent high-growth markets."
The stock was up 1.17% to $4.34 at 10:37 a.m.
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Separately, TheStreet Ratings team rates ADVANCED MICRO DEVICES as a "hold" with a ratings score of C-. TheStreet Ratings Team has this to say about their recommendation:
"We rate ADVANCED MICRO DEVICES (AMD) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we also find weaknesses including weak operating cash flow, relatively poor performance when compared with the S&P 500 during the past year and generally higher debt management risk."