5 Good Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 63

Topping the list of 15 good stocks to buy right now is California-based chipmaker Advanced Micro Devices, Inc. (NASDAQ: AMD). The semiconductor company sells graphic processing units (GPUs) utilized in data centers, gaming, and cryptocurrency mining. 

Advanced Micro Devices, Inc. (NASDAQ: AMD) announced a $35 billion all-stock acquisition of Chinese chipmaker Xilinx, Inc. (NASDAQ: XLNX) in October 2020, with the deal likely to close by the end of 2021.

On July 29, shares of Advanced Micro Devices, Inc. (NASDAQ: AMD) rose more than 5% as Chief Executive Lisa Su spoke optimistically about the chipmaker’s position in the semiconductor market, despite the continued chip shortage. Su noted that the supply chain has improved, and as a result, the company’s second-quarter results have been surpassed.

On August 9, BMO Capital Markets analysts upgraded Advanced Micro Devices, Inc. (NASDAQ: AMD) to a Market Perform rating from Underperform and increased its price target to $110 per share from $80 previously. The stock has gained 21% in the previous month.

The company has a market cap of $134 billion. In the second quarter of 2021, Advanced Micro Devices, Inc. (NASDAQ: AMD) reported an EPS of $0.63, beating estimates by $0.09. The company’s revenue came in at $3.85 billion, an increase of 99% year over year, and beat estimates by $237.31 million.

At the end of the second quarter of 2021, 63 hedge funds in the database of Insider Monkey held stakes worth $4.61 billion in Advanced Micro Devices, Inc. (NASDAQ: AMD), up from 62 in the previous quarter worth $3.70 billion.

You can also take a peek at the 10 Reddit WallStreetBets Stocks That are Rising and 10 Finance Stocks that Pay Dividends.

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