5 Best Semiconductor Stocks to Buy in 2021

3. Advanced Micro Devices Inc (NASDAQ: AMD)

Number of Hedge Fund Holders: 74

Headquartered in Santa Clara, California, Advanced Micro Devices, Inc. operates as a semiconductor company worldwide through its two segments – ‘Computing & Graphics’ and ‘Enterprise, Embedded & Semi-Custom’. In January 2021, AMD reported its fourth quarter 2020 results – posting a solid revenue growth of 53% year-on-year and 16% quarter-on-quarter, driven by strong sales of its processors. The company also achieved record annual net earnings and FCF; and guided strong growth in all businesses in 2021, leading to a revenue growth of 37%. Accordingly, its price targets were raised by many analysts from well-known investment banks, like Northland, Susquehanna Financial Group, Barclays, etc.

As of the end of the fourth quarter, 74 hedge funds in Insider Monkey’s database of 887 funds held stakes in AMD compared to 71 funds in the third quarter. Arrowstreet Capital is the company’s biggest stakeholder, with 10.3 million shares worth $944 million.