5 Stocks to Buy According to Kevin McCarthy’s Breakline Capital

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

Breakline Capital’s Stake Value: $6,739,000
Percentage of Breakline Capital’s 13F Portfolio: 7.74%
Number of Hedge Fund Holders: 87

Advanced Micro Devices, Inc. (NASDAQ:AMD) is a multinational semiconductor company. On August 30, Advanced Micro Devices, Inc. (NASDAQ:AMD) revealed its new “Zen 4” architecture-based Ryzen 7000 series desktop CPUs, which would enhance functioning for content creators and gamers.

On August 3, Northland analyst Gus Richard increased his price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $105 from $95 and reiterated an ‘Outperform’ rating on the stock following the release of the company’s non-GAAP earnings, which marginally exceeded his estimate. The company also maintained its revenue and gross margin forecasts for calendar 2022.

Securities filings reveal that Breakline Capital boosted its stake in Advanced Micro Devices, Inc. (NASDAQ:AMD) by 552% during the second quarter of 2022. The fund thus owns 88,127 shares of Advanced Micro Devices, Inc. (NASDAQ:AMD), worth over $6.74 million and representing 7.74% of the value of its 13F portfolio.

87 hedge funds tracked by Insider Monkey reported having bullish bets on Advanced Micro Devices, Inc. (NASDAQ:AMD) as of the end of the second quarter of 2022, with an aggregate stake value of $4.84 billion. Fisher Asset Management, with a position worth $1.92 billion, stood as the most significant shareholder of Advanced Micro Devices, Inc. (NASDAQ:AMD).

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.”