Analyst Update: Advanced Micro Devices, Inc., Lions Gate Entertainment Corp., and Transocean Ltd.

Analysts adjusted their ratings on Advanced Micro Devices, Inc. (AMD), Lions Gate Entertainment Corp. (USA) (LGF), and Transocean LTD (RIG)

by Griffin Kruse

Published on Feb 2, 2015 at 12:40 PM
Updated on Apr 20, 2015 at 5:32 PM

Analysts are weighing in on semiconductor concern Advanced Micro Devices, Inc. (NASDAQ:AMD), media company Lions Gate Entertainment Corp. (USA) (NYSE:LGF), and energy name Transocean LTD (NYSE:RIG). Here's a quick look at today's brokerage notes on AMD, LGF, and RIG.

  • AMD is about 4.5% higher today at $2.68, after Barron's published a bullish profile piece on the semiconductor company and its new CEO Lisa Su. However, with AMD just off a two-year low of $2.14 on Jan. 21, sentiment in the stock's options pits is still bearish. Advanced Micro Devices, Inc.'s 50-day International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) put/call volume ratio of 2.82 sits just 6 percentage points away from an annual pessimistic peak. The brokerage bunch is bearish on the equity as well, with 14 out of 19 covering analysts rating the stock a "hold," "sell," or "strong sell."

  • Shares of LGF have fallen nearly 3% in intraday trading to $27.89, after RBC cut its target price on the equity to $39 from $40, while reiterating its "outperform" prediction. On the charts, Lions Gate Entertainment Corp. has lost 12.9% of its value year-to-date. Ahead of the company's turn in the earnings spotlight Thursday night, call buying is popular in the stock's options pits, with LGF's 10-day ISE/CBOE/PHLX call/put volume ratio of 18.41 sitting in the 99th percentile of its annual range. However, over 17% of the stock's available float is sold short -- which would take roughly 17 sessions to buy back, at average trading levels -- implying that some of this activity may be at the hands of short sellers hedging against possible upside. The analyst community is unanimously bullish on the stock, with all nine covering specialists doling out "buy" or better ratings, and LGF's 12-month consensus price target sitting at a 28% premium to current trading levels.

  • RIG has advanced 4.2% this afternoon to hit $16.97, despite receiving negative notes from two separate brokerage firms. Specifically, Raymond James and Jefferies both cut their ratings to "underperform," while the latter also dropped its price target to $12. Keeping the stock -- and its sector peers -- afloat was recent data that showed North American rig counts are on the decline. Sentiment in Transocean LTD's options pits is bearish, with its 50-day ISE/CBOE/PHLX put/call volume ratio of 2.30 sitting in the 97th percentile of all similar readings taken over the past year. The brokerage bunch is just as pessimistic on the equity, with all 15 covering analysts rating the stock a "hold" or worse.

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