Hedge Funds are Buying These 5 Semiconductor Stocks in 2022

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1) NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 102

NVIDIA Corporation (NASDAQ:NVDA) is one of the largest semiconductor companies in the world in terms of market capitalization. The firm primarily designs, develops, and sells graphics processing units (GPUs), which are a relatively new kind of semiconductor that aid the traditional CPU in crunching heavy duty instructions.

NVIDIA Corporation (NASDAQ:NVDA)’s fiscal first quarter results came with a bit of drama. While the company posted $8.3 billion in revenue and $1.36 in non-GAAP EPS, and beat analyst estimates for both, its share price still tanked in aftermarket trading. This was due to the fact that the company’s revenue estimates for the ongoing quarter fell short of what Wall Street was expecting, as it factored in the impacts of the Russian invasion of Ukraine and problems in China.

Baird reduced its share price target to $165 from $225 in May 2022, stating that the company’s gaming revenue will continue to be affected but it is a solid stock for the long term. Insider Monkey’s Q1 2022 analysis of 912 hedge funds revealed that 102 had bought a stake in the company, making NVIDIA Corporation (NASDAQ:NVDA) our most popular semiconductor stock.

Ken Fisher’s Fisher Asset Management is NVIDIA Corporation (NASDAQ:NVDA)’s largest investor through a $1.9 billion stake that comes via 7.3 million shares.

Disclosure: None. You can also take a look at 10 European Defense Stocks to Buy Now and 10 Tech Stocks to Buy Now According to Barry Dargan’s Intermede Investment Partners.

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