5 Semiconductor Stocks to Buy Today According to Israel Englander’s Millennium Management

1. NVIDIA Corporation (NASDAQ:NVDA)

Millennium Management’s Stake Value: $1.1 billion

Percentage of Millennium Management’s 13F Portfolio: 0.58%

Number of Hedge Fund Holders: 111

NVIDIA Corporation (NASDAQ:NVDA) is one of the largest semiconductor firms in the world when it comes to market capitalization. The company has seen significant investor interest of late due to its successful targeting of growing markets. NVIDIA Corporation (NASDAQ:NVDA) designs and sells graphics processing units (GPUs) that are used by general and enterprise users and it is also working on central processing units (CPUs).

NVIDIA Corporation (NASDAQ:NVDA) raked in $7.6 billion in revenue and $1.32 in non-GAAP  EPS for its fiscal fourth quarter, allowing it to beat analyst estimates for both. Its price target was set to $245 by Goldman Sachs in March 2022, with the bank stating that artificial intelligence and machine learning present strong growth opportunities for the company.

Mr. Englander’s hedge fund had a $1.1 billion stake in NVIDIA Corporation (NASDAQ:NVDA) as the fourth quarter of last year came to an end. This came through 3.8 million shares and it represented 0.58% of the firm’s investment portfolio. A Q4 2021 Insider Monkey poll of 924 hedge funds showed that 111 had also owned the company’s shares.

Ken Fisher’s Fisher Asset Management is NVIDIA Corporation (NASDAQ:NVDA)’s largest investor. It owns a $1.5 billion stake via 5.1 million shares.

In a third quarter 20221 investor letter, Harding Loevner mentioned NVIDIA Corporation (NASDAQ:NVDA) and outlined:

“The proliferation of devices using chips, whether EVs, “things” in lol, or embedded systems more generally, results in the generation of oceans of data potentially needing to be stored, processed, and analyzed. NVIDIA, the leading chip designer wellknown for its graphic processing units and its complementary CUDA software ecosystem, is at the forefront of the effort to provide the analytical platform needed to unlock the full potential of such specialist processors.”

Disclosure: None. You can also take a peek at the 10 Stocks to Buy Now According to Wayne Yu’s BCK Capital and Gillson Capital Stock Portfolio: 10 Best Dividend Stocks.

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