Advanced Micro Devices, Inc. (NASDAQ:AMD) [Detail Analytic Report] eased down in ealry session on Friday as Wells Fargo analyst David Wong stated that Advanced Micro Devices (AMD) is making “substantial progress”, in particular having possibly taken share in graphics chips from contender NVIDIA Corporation (NASDAQ:NVDA). He sets an Outperform rating on AMD, and gives $4 to $4.50 price target, A Market Perform rating on Nvidia, writes that they believe that market share gains in graphics chips have been a contributor to Nvidia’s top line performance and stock price value over the last two years.
Wong expects a hint of share gain for AMD following most recent quarterly reports: MD reported that in March 2016 quarter it achieved twofold digits percent sequential surge in desktop discrete graphics unit shipments, and that professional graphics also grew. AMD guided for 15% sequential sales growth in the June quarter, driven by strong demand for its semi-custom and graphics products. The midpoint of Nvidia’s April 2016 quarter outlook implies an expectation of a 10% sequential sales decline. Following many quarters of impressive top line growth, in their view a normal seasonal decline does not reflect negatively on Nvidia’s business.
Cypress Semiconductor Corporation (NASDAQ:CY) [Detail Analytic Report] reported that its Board has given its allowed for a quarterly cash distribution of $0.11 per share. The firm reported that dividend would be payable on July 21 to all the entitled shareholders. The firm has fixed the record date of June 30 to determine the eligible shareholders. Cypress Semiconductor reported that it would make a determination as to whether the current year distributions were to be treated as a return of capital or a dividend following its 2016 fiscal year ends.
However, firm indicated it anticipates current year’s distributions to be taxable dividends. Therefore, it advised investors to treat accordingly until a final decision could be made. The present dividend provided a yield of 4.60%, which improved than the five-year average dividend yield of 3.90%. The firm has been paying a dividend since 2011.
Broadcom Limited (NASDAQ:AVGO) [Detail Analytic Report] reported that its next-generation 5A gate drive optocoupler devices, ACPL-352J and ACNW3430. These new devices are deinked to support a wide range of industrial applications. The firm had tasted immense commercial success by means of its previous 5A optocouplers.
The earlier 5A optocouplers helped Broadcom obtain an edge over its contenders’ high current, high speed switching applications. The newest model of 5A optocouplers will deliver more price effective, energy efficient and strong gate driver solutions for industrial applications to its consumers. The recent Broadcom 5A optocouplers are anticipated to recreate the success its earlier models had in the market. These new innovations are predictable to trigger higher sales for the firm.