Advanced Micro Devices (NYSE:AMD) Makes Interim Financial Chief Devinder Kumar Permanent

Advanced Micro Devices, Inc (NYSE:AMD) reported on Wednesday that Devinder Kumar, a veteran of AMD for over 28 years, will become chief financial officer of the second-biggest manufacturer of processors for personal computers.

The Sunnyvale, California-based AMD reported in a statement that Kumar, who has filled the position on an interim basis since Thomas Seifert quitted in September, was selected after a thorough internal and external search. Devinder Kumar has been controller since 2001.

Shares of the major processors makers for PC’s hiked 5.4% to settle at $2.53 in New York, before the report. They lost 56% of their value previous year.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Microchip Technology Inc. (NASDAQ:MCHP) rose +3.56% to settle at $33.75, Silicon Motion Technology Corp. (ADR) (NASDAQ:SIMO) moved up +3.16% to end at $14.67 while Broadcom Corporation (NASDAQ:BRCM) jumped +3.91% to finish at $34.51 on Wednesday.

Advanced Micro Devices, Inc. (NYSE:AMD) last session’s volume of 27.21 million shares was higher than its average volume of 25.54 million shares. The stock after opening at $2.55 hit high price of $2.57 and then closed at $2.53 by scoring +5.42%.

AMD generated revenue of $5.96 billion in the previous twelve months and earned -$883.00 million. The Company showed a negative -14.82% in the net profit margin as well as in its operating margin which remained at -9.45%. Company’s annual sales growth for the past five years was 3.14%.

The AMD’s past twelve months’ price to sales ratio was 0.30 and price to cash ratio remained 1.39. As far as the returns are concerned, AMD’s return on equity was recorded as -64.62% and return on investment decreased -27.43% while its return on asset stayed at -17.93%.

The stock showed weekly upbeat performance of 2.02% which was maintained for the month at 15.00%. Likewise the negative performance for the quarter was recorded as -24.93% and for the year was -52.62% while the YTD performance remained at 5.42%.

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