5 Semiconductor Stocks to Watch as Uncertainty Grows

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

Number of Hedge Fund Holders: 87

Advanced Micro Devices, Inc. (NASDAQ:AMD) designs and manufactures semiconductors for both business and consumer markets. On August 2, Advanced Micro Devices, Inc. (NASDAQ:AMD) announced earnings for the second quarter of fiscal 2022. The company’s earnings per share came in at $1.05 and beat estimates by $0.01. The company’s revenue for the quarter amounted to $6.55 billion, up 70.13% year over year, and outperformed expectations by $20.78 million.

While the company’s earnings outperformed estimates, Advanced Micro Devices, Inc. (NASDAQ:AMD) expects fiscal third quarter 2022 revenue to take a hit from demand slowdown in PCs. The company expects its revenue to fall to $6.7 billion for Q3 2022, while analysts expect the company to generate sales of roughly $6.81 billion in the quarter. Though the consumer segment is expected to have a negative impact on sales, Advanced Micro Devices, Inc. (NASDAQ:AMD) has a leading position in the data center market and the server market, which will help the company drive outperformance in the back half of 2022. For fiscal 2022, the company expects to deliver a revenue of $26.3 billion, up 60% year over year, primarily led by growth in its data center and embedded systems segments.

On August 3, Northland analyst Gus Richard raised his price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $105 from $95 and reiterated an Outperform rating on the shares.

At the close of Q2 2022, 87 hedge funds were long Advanced Micro Devices, Inc. (NASDAQ:AMD) and held stakes worth $4.84 billion in the company. Of those, Fisher Asset Management was the top shareholder with stakes worth $1.92 billion.

You can also take a look at 12 Best Semiconductor Stocks To Invest In Right Now and 10 Cheap Semiconductor Stocks to Invest In Today.

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