5 Stocks to Buy According to John Hurley’s Cavalry Asset Management

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

Cavalry Asset Management’s Stake Value: $129,870,000

Percentage of Cavalry Asset Management’s 13F Portfolio: 9.91%

Number of Hedge Fund Holders: 83

The American semiconductor company, beat Intel Corporation (NASDAQ:INTC) in terms of market cap on August 1. AMD’s market capitalization grew by 3.05% to $94.47 per share, pushing the company’s market cap to $153 billion. In contrast, shares of Intel decreased roughly 9% to $36.31 per share, giving the rival chipmaker a market value of $148 billion.

On July 20, Ross Seymore, an analyst at Deutsche Bank, reiterated a ‘Hold’ rating on Advanced Micro Devices, Inc. (NASDAQ:AMD) while decreasing the price objective on the stock from $115 to $85. Seymore advised investors in a research note that the semiconductor cycle is still in a state of limbo.

Hedge funds were recently seen loading up on Advanced Micro Devices, Inc. (NASDAQ:AMD). 83 hedge funds reported ownership of AMD positions as of the end of the first quarter of 2022, compared to 69 hedge funds as of the end of the fourth quarter of 2021. With a stake valued at more than $6.50 million, Crestwood Capital Management is a prominent stakeholder of Advanced Micro Devices, Inc. (NASDAQ:AMD).

In its Q4 2021 investor letter, Carillon Tower Advisers mentioned Advanced Micro Devices, Inc. (NASDAQ:AMD). Here is what the fund said:

“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.”

You can also take a peek at 10 Stocks to Buy According to Francis Chou’s Chou Associates Management and 10 Stocks to Buy According to William Von Mueffling’s Cantillon Capital Management

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