In this article, we discuss 5 most searched stocks on Insider Monkey. If you want to see more stocks in this selection, check out 10 Most Searched Stocks on Insider Monkey.
5. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Percentage of Searches: 0.40%
Number of Hedge Fund Holders: 87
Advanced Micro Devices, Inc. (NASDAQ:AMD) is a California-based semiconductor company that manufactures microprocessors, chipsets, discrete and integrated graphics processing units, and data center and professional GPUs, among other products. Advanced Micro Devices, Inc. (NASDAQ:AMD) is one of the most searched stocks on Insider Monkey, with 0.40% of the total search queries attributed to the company.
On September 15, Wedbush removed Advanced Micro Devices, Inc. (NASDAQ:AMD) from its Best Ideas List given the firm’s investment price discipline. Analyst Matt Bryson still maintained an Outperform rating and a price target of $125 on Advanced Micro Devices, Inc. (NASDAQ:AMD) shares.
Among the hedge funds tracked by Insider Monkey, Advanced Micro Devices, Inc. (NASDAQ:AMD) was part of 87 public stock portfolios at the end of the second quarter of 2022, up from 83 funds in the prior quarter. However, the collective stakes held by hedge funds in Q2 decreased to $4.8 billion from roughly $7 billion in Q1 2022. Ken Fisher’s Fisher Asset Management featured as the leading position holder in Advanced Micro Devices, Inc. (NASDAQ:AMD), with 25 million shares worth about $2 billion.
Here is what Baron Opportunity Fund has to say about Advanced Micro Devices, Inc. (NASDAQ:AMD) in its Q2 2022 investor letter:
“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.
Additionally, the recently closed acquisitions of Xilinx and Pensando enhance AMD’s positioning within the data center, a key growth engine for the semiconductor industry, and Xilinx specifically opens up several new growth opportunities in new end markets like industrial, automotive, and communications. The company also generates significant cash flow, giving it capital allocation optionality for further M&A and returning capital to shareholders.”
