5 Quality Stocks to Buy with Shares Down Over 30% YTD

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

Percentage of iShares MSCI USA Quality Factor ETF Holdings: 0.86%

Year to Date Performance as of September 22: -51.70%

Number of Hedge Fund Holders: 87

Based in Santa Clara, California, Advanced Micro Devices, Inc. (NASDAQ:AMD) is a leading semiconductor company using high-performance computing, graphics, and visualization technologies to provide computing solutions for cloud, edge, and end devices. On September 20, the semiconductor maker unveiled its latest Ryzen™ 7020 Series and Athlon™ 7020 Series Processor lineup, promising high-end performance and longer battery life for mobile and laptop devices.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is down almost 52% year to date as of September 22 due to profit taking and weaker semiconductor shares.

In August, Advanced Micro Devices, Inc. (NASDAQ:AMD) released its financial results for the quarter ended June 25, 2022. Its revenues increased by 70% y-o-y to $6.6 billion, while net income declined by 37% y-o-y to $447 million, for the three months. The normalized EPS was recorded at $1.05 per share, beating the consensus by $0.01.

On September 15, Mizuho analyst Vijay Rakesh lowered the price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) shares to $125 from $140 but maintained a ‘Buy’ rating on the shares.

As of Q2 2022, 87 hedge funds tracked by Insider Monkey held shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), worth $4.8 billion. Ken Fisher’s Fisher Asset Management is its largest hedge fund shareholder with ownership of 25.1 million shares valued at $1.9 billion.