Semiconductor Stocks: 5 Biggest Losers in September

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

Number of Hedge Fund Holders: 87  

Percentage Decline in Share Price Over Past Month as of September 21: 20%  

Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor company worldwide. On August 2, the company posted earnings for the second quarter of 2022, reporting earnings per share of $1.05, beating market estimates by $0.01. The revenue over the period was $6.55 billion, up more than 70% compared to the revenue over the same period last year and beating estimates by $20 million. The firm guided full-year revenue to more than $100 million above consensus estimates of $26.1 billion. 

On September 15, Mizuho analyst Vijay Rakesh maintained a Buy rating on Advanced Micro Devices, Inc. (NASDAQ:AMD) stock and lowered the price target to $125 from $140, noting that semi hyperscale remains strong into the end of 2022 with modest pushbacks. 

At the end of the second quarter of 2022, 87 hedge funds in the database of Insider Monkey held stakes worth $4.8 billion in Advanced Micro Devices, Inc. (NASDAQ:AMD), compared to 83 in the previous quarter worth $6.9 billion.

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Advanced Micro Devices, Inc. (NASDAQ:AMD) was one of them. Here is what the fund said:

“Advanced Micro Devices, Inc.(NASDAQ:AMD) is a global fabless semiconductor company focusing on high-performance computing technology, software, and products. AMD designs leading high-performance central and graphics processing units (known as CPUs and GPUs) and integrates them with hardware and software to build differentiated solutions for customers.

AMD has been gaining meaningful share in personal computing and server end markets over the past several years driven by the performance of its processors and technology and strong execution against its technology roadmap, and we believe share gains will continue over the coming years from a combination of AMD’s continued advancements and Intel’s stumbles in developing its leading-edge technology (…read more)

You can also take a peek at 10 Best Healthcare Dividend Stocks to Buy Now and 10 Dividend Stocks with Over 20 Years of Dividend Increases.

Follow Insider Monkey on Twitter