5 Best Semiconductor Stocks to Buy Now

3. Advanced Micro Devices, Inc. (NASDAQ:AMD)

Number of Hedge Fund Holders: 87

Advanced Micro Devices, Inc. (NASDAQ:AMD) is an American company that designs several kinds of semiconductor products. These include central processing units (CPUs) for desktops, notebooks, and datacenters, and GPUs for casual, professional, and enterprise users.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is currently the darling of the technology industry as it continues to post consecutive quarterly growths through introducing advanced products in the market to effectively compete with its larger rival Intel Corporation. The firm’s second quarter results saw it post record revenues once again through 70% annual growth and at the same time, it gained market share in the crucial data center market.

Stifel set a $122 share price target for Advanced Micro Devices, Inc. (NASDAQ:AMD) in September 2022, stating that the company has a strong product portfolio and is at par with Intel. Insider Monkey’s 895 hedge fund study for this year’s second quarter saw 87 as having bought the company’s shares.

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s largest investor is Ken Fisher’s Fisher Asset Management which owns 25 million shares that are worth $1.9 billion.