5 Semiconductor Stocks for the Next 20 Years

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

Number of Hedge Fund Holders: 83 

Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. On August 2, the company posted earnings for the second quarter of 2022, reporting earnings per share of $1.05, beating market estimates by $0.01. The revenue over the period was $6.55 billion, up more than 70% compared to the revenue over the same period last year and beating estimates by $20 million. The firm guided full year revenue to more than $100 million above consensus estimates of $26.1 billion. 

On July 19, Wells Fargo analyst Aaron Rakers maintained an Overweight rating on Advanced Micro Devices, Inc. (NASDAQ:AMD) stock and lowered the price target to $130 from $140, backing the shares to return to a 25+ forward price to earnings multiple.

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Advanced Micro Devices, Inc. (NASDAQ:AMD), with 24 million shares worth more than $2.6 billion.

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

“Advanced Micro Devices, Inc. (NASDAQ: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.”