1. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 83
Analysts remain bullish on Advanced Micro Devices, Inc. (NASDAQ:AMD), partly due to the company’s market-leading 3rd Gen EPYC processors which are revolutionizing the data center industry. On July 15, Goldman Sachs analyst Toshiya Hari trimmed her price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $99 from $133 but maintained a Buy rating on the shares. On July 21, Wells Fargo analyst Aaron Rakers cut his price target on Advanced Micro Devices, Inc. (NASDAQ:AMD) to $130 from $140 but reiterated a buy-side Overweight rating on the shares. As of July 22, Advanced Micro Devices, Inc. (NASDAQ:AMD) has trailing twelve-month free cash flows of $3.31 billion.
Over the past 3 months, 26 Wall Street analysts have given their 12-month price targets and ratings on Advanced Micro Devices, Inc. (NASDAQ:AMD). The stock has received 18 Buy and 8 hold ratings. Advanced Micro Devices, Inc. (NASDAQ:AMD) has a high forecast of $200 and a low forecast of $85. The stock’s average price target, which borders $127, implies a 44.64% upside from its closing price on July 22, which sits at $88.10.
As of March 31, Fisher Asset Management is the largest shareholder in Advanced Micro Devices, Inc. (NASDAQ:AMD) and owns more than 24.38 million shares of the company. The fund raised its stakes by 23% in the first quarter of 2022, bringing them to $2.66 billion. Advanced Micro Devices, Inc. (NASDAQ:AMD) covers 1.57% of Ken Fisher’s 13F portfolio.
At the end of Q1 2022, 83 hedge funds were bullish on Advanced Micro Devices, Inc. (NASDAQ:AMD). The total stakes of these hedge funds amounted to $6.94 billion, up from $6.74 billion in the preceding quarter when 69 hedge funds held stakes in the company. The hedge fund sentiment for the stock is positive.
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 (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.”
You can also take a look at 15 Stocks to Buy Today According to Jim Cramer and 10 Stocks Jim Cramer and Ken Fisher Have in Common.
