Hedge Funds are Buying These 5 Semiconductor Stocks in 2022

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

Number of Hedge Fund Holders: 83

Advanced Micro Devices, Inc. (NASDAQ:AMD) is an American semiconductor designer and seller that focuses on selling central processing units (CPUs) and graphics processing units (GPUs). It is one of the handful of companies in the world that can design semiconductors on the x86 microarchitecture, and its primary rivals are Intel Corporation (NASDAQ:INTC) and NVIDIA Corporation (NASDAQ:NVDA).

For its fiscal first quarter, Advanced Micro Devices, Inc. (NASDAQ:AMD) reported that it had earned record revenue in the form of $5.9 billion and alongside posting a non-GAAP EPS of $1.13. These comfortably beat analyst estimates for both metrics, and the revenue grew by a staggering 71% annually. As a result, the company’s share price jumped by 4.2% in aftermarket trading. Of the 912 hedge fund portfolios analyzed by Insider Monkey for this year’s March quarter, 83 had held a stake in Advanced Micro Devices, Inc. (NASDAQ:AMD).

Advanced Micro Devices, Inc. (NASDAQ:AMD) continued its expansion in the enterprise computing segment in May 2022, as it completed acquiring another company that focuses on data centers.

Advanced Micro Devices, Inc. (NASDAQ:AMD)’s largest investor in Insider Monkey’s database is Ken Fisher’s Fisher Asset Management. It owns 24 million shares that are worth $2.6 billion.