With AMD creating new 52-week lows almost every week, the stock has eroded hundreds of million $s of shareholders wealth in the last one year. The chart here (courtsey Yahoo Finance) is not one of the best that I have seen in few years. The Institutional ownership has reduced from around 76% to mid 50s, signalling a huge sellout by funds. However, with a market cap of around $7B, its definitely an attractive target for the burgeoning PE firms. I would expect more sellout by these funds, and then a sudden turnaround due to buyout possibilities to take the stock back to lower or mid 20s.
Disclaimer: These are my personal thoughts and should not be construed as an advice of any sort.
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