5 Most Buzzing Stocks to Buy Now

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

Volume as of September 28: 72.3 Million

Average Volume (3-Month): 79.8 Million

Number of Hedge Fund Holders: 87

On August 2, Advanced Micro Devices, Inc. (NASDAQ:AMD) announced earnings for the fiscal second quarter of 2022. The company reported earnings per share of $1.05 and outperformed expectations by $0.01. The company generated a revenue of $6.55 billion, up 70% year over year, and beat Wall Street expectations by $20.78 million.

Wall Street is bullish on Advanced Micro Devices, Inc. (NASDAQ:AMD) and the stock is among the best buzzing stocks to buy now. Shortly after the company’s earnings release, KGI Securities analyst Christine Wang upgraded Advanced Micro Devices, Inc. (NASDAQ:AMD) to a buy-side Outperform from Neutral and reiterated her $125 price target on the shares. On September 7, Stifel analyst Ruben Roy started coverage of Advanced Micro Devices, Inc. (NASDAQ:AMD) with a Buy rating and a $122 price target. As of September 28, Advanced Micro Devices, Inc. (NASDAQ:AMD) has an intraday trading volume of 72.3 million and a 3-month average volume of 79.8 million.

At the close of Q2 2022, 87 hedge funds disclosed ownership of stakes in Advanced Micro Devices, Inc. (NASDAQ:AMD). The collective stakes of these hedge funds amounted to $4.84 billion. As of June 30, Fisher Asset Management is the most prominent investor in Advanced Micro Devices, Inc. (NASDAQ:AMD) and has stakes worth $1.92 billion in the company. The investment covers 1.36% of Ken Fisher’s 13F portfolio.

Here is what Baron Funds had to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its second-quarter 2022 investor letter:

“Advanced Micro Devices, Inc. (NASDAQ:AMD) is a global fabless semiconductor company focusing on high-performance computing technology, software, and products. AMD designs leading high-performance central and graphics processing units (known as CPUs and GPUs) and integrates them with hardware and software to build differentiated solutions for customers.

AMD has been gaining meaningful share in personal computing and server end markets over the past several years driven by the performance of its processors and technology and strong execution against its technology roadmap, and we believe share gains will continue over the coming years from a combination of AMD’s continued advancements and Intel’s stumbles in developing its leading-edge technology.

Additionally, the recently closed acquisitions of Xilinx and Pensando enhance AMD’s positioning within the data center, a key growth engine for the semiconductor industry, and Xilinx specifically opens up several new growth opportunities in new end markets like industrial, automotive, and communications. The company also generates significant cash flow, giving it capital allocation optionality for further M&A and returning capital to shareholders.”