5 Semiconductor Stocks to Buy Now

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

Number of Hedge Fund Holders: 83

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a California-based semiconductor company that operates in two segments – Computing and Graphics and Enterprise, Embedded and Semi-Custom. Northland analyst Gus Richard upgraded Advanced Micro Devices, Inc. (NASDAQ:AMD) on June 30 to Outperform from Market Perform with a price target of $95. BofA analyst Vivek Arya on June 29 also maintained a Buy rating on the stock and lowered the firm’s price target to $110 from $160.

In Q1 2022, 83 hedge funds were bullish on Advanced Micro Devices, Inc. (NASDAQ:AMD), up from 69 funds in the preceding quarter. Jim Simons’ Renaissance Technologies is a significant stakeholder of the company, with more than 7 million shares worth over $777 million. 

Here is what Carillon Tower Advisers has to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q4 2021 investor letter:

“Advanced Micro Devices (AMD) supplies semiconductor chips for central processing units (CPUs) and graphic processing units (GPUs). The firm has been gaining share against its primary competitor in the datacenter server CPU space, as this rival has been unable to match the design and manufacturing capabilities of AMD and its partners. Investors are also looking forward to the closing of the previously announced merger with a semiconductor manufacturer that is another one of the portfolio’s holdings. The merger will increase AMD’s capabilities in the Field Programmable Gate Array (FPGA) chip space, and the combined company should possess the potential to win additional market share in the datacenter chip market.”