5 Most Active Stocks To Buy Now

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

Number of Hedge Fund Holders: 69

Volume as of May 11: 135.9 million

One of the most actively traded securities on Wall Street as of May 11 was Advanced Micro Devices, Inc. (NASDAQ:AMD), with the volume reaching approximately 136 million. Advanced Micro Devices, Inc. (NASDAQ:AMD) is a California-based semiconductor company. 

On May 3, Advanced Micro Devices, Inc. (NASDAQ:AMD) announced its Q1 financial results, posting earnings per share of $1.13, beating market estimates by $0.20. Revenue for the period grew about 71% year-over-year to $5.89 billion, outperforming analysts’ consensus estimates by $313.37 million. 

Craig-Hallum analyst Christian Schwab on May 4 maintained a Buy recommendation on Advanced Micro Devices, Inc. (NASDAQ:AMD) but lowered the firm’s price target on the shares to $130 from $160 on decreased valuation multiple. The analyst observed that Advanced Micro Devices, Inc. (NASDAQ:AMD) posted another solid quarter and reaffirmed expectations for strength to continue. 

Among the hedge funds tracked by Insider Monkey, 69 funds were long Advanced Micro Devices, Inc. (NASDAQ:AMD) at the end of Q4 2021, up from 65 funds in the earlier quarter. Ken Fisher’s Fisher Asset Management is the leading shareholder of the company, with about 20 million shares worth $2.8 billion. 

Here is what Carillon Tower Advisers has to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q4 2021 investor letter:

“Advanced Micro Devices (AMD) supplies semiconductor chips for central processing units (CPUs) and graphic processing units (GPUs). The firm has been gaining share against its primary competitor in the datacenter server CPU space, as this rival has been unable to match the design and manufacturing capabilities of AMD and its partners. Investors are also looking forward to the closing of the previously announced merger with a semiconductor manufacturer that is another one of the portfolio’s holdings. The merger will increase AMD’s capabilities in the Field Programmable Gate Array (FPGA) chip space, and the combined company should possess the potential to win additional market share in the datacenter chip market.”