In this article, we discuss the 5 semiconductor stocks that US politicians are buying. If you want to read about some more semiconductor stocks that US politicians are buying, go directly to US Politicians are Buying These 10 Semiconductor Stocks.
5. Advanced Micro Devices, Inc. (NASDAQ:AMD)
Number of Hedge Fund Holders: 83
Advanced Micro Devices, Inc. (NASDAQ:AMD) operates as a semiconductor manufacturer. On June 15, US House member Ro Khanna revealed that his child had bought Advanced Micro Devices, Inc. (NASDAQ:AMD) stock worth somewhere between $1,000 to $15,000. The transaction in this regard took place in early May.
On August 3, investment advisory KGI Securities upgraded Advanced Micro Devices, Inc. (NASDAQ:AMD) stock to Outperform from Neutral with a price target of $125. Analyst Christine Wang issued the ratings update.
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.”
4. Applied Materials, Inc. (NASDAQ:AMAT)
Number of Hedge Fund Holders: 74
Applied Materials, Inc. (NASDAQ:AMAT) provides equipment, services, and software for the semiconductor industry. According to the latest filings, US House member Ro Khanna disclosed a transaction related to Applied Materials, Inc. (NASDAQ:AMAT) stock worth around $1,000-$15,000 on July 11. The politician revealed that his child had bought the shares of the firm worth the above mentioned amount in mid-June.
On July 15, Wells Fargo analyst Joe Quatrochi maintained an Overweight rating on Applied Materials, Inc. (NASDAQ:AMAT) stock and lowered the price target to $110 from $135, noting that the second quarter earnings were a difficult step for semiconductor stocks.
Among the hedge funds being tracked by Insider Monkey, London-based investment firm Generation Investment Management is a leading shareholder in Applied Materials, Inc. (NASDAQ:AMAT), with 4.2 million shares worth more than $560 million.
3. Intel Corporation (NASDAQ:INTC)
Number of Hedge Fund Holders: 76
Intel Corporation (NASDAQ:INTC) markets key technologies for smart devices. On August 11, US House member Kathy Manning disclosed a transaction related to Intel Corporation (NASDAQ:INTC) stock worth somewhere between $1,000 and $15,000. The member revealed that her husband bought the stock worth the above mentioned amount in mid-July.
On July 29, Wedbush analyst Matt Bryson maintained an Underperform rating on Intel Corporation (NASDAQ:INTC) stock and lowered the price target to $35 from $44, noting that the firm was better positioned to meet expectations after the second quarter earnings miss.
At the end of the first quarter of 2022, 76 hedge funds in the database of Insider Monkey held stakes worth $3.1 billion in Intel Corporation (NASDAQ:INTC), compared to 72 in the previous quarter worth $5.5 billion.
Baron Funds, an asset management firm, mentioned Intel Corporation (NASDAQ:INTC) in its first-quarter 2022 investor letter. Here is what they said:
“Intel Corporation (NASDAQ:INTC) capital spending process is guided by a process they appropriately named “copy exactly.” This means that they attempt to “copy exactly” what they have already built and attempt to improve tried and true processes iteratively.”
2. Micron Technology (NASDAQ:MU)
Number of Hedge Fund Holders: 78
Micron Technology (NASDAQ:MU) makes and sells memory and storage products. On August 11, US House member Kathy Manning disclosed a transaction related to Micron Technology (NASDAQ:MU) stock worth somewhere between $1,000 and $15,000. The member revealed that she had bought the stock worth the above-mentioned amount in late July.
On August 10, Deutsche Bank analyst Sidney Ho maintained a Buy rating on Micron Technology (NASDAQ:MU) stock and lowered the price target to $68 from $70, noting that the shares of the firm were close to a trough.
At the end of the first quarter of 2022, 78 hedge funds in the database of Insider Monkey held stakes worth $3.4 billion in Micron Technology (NASDAQ:MU), compared to 83 in the preceding quarter worth $5.5 billion.
1. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 102
NVIDIA Corporation (NASDAQ:NVDA) operates as a visual computing firm. Per latest disclosures, US House member Kathy Manning bought NVIDIA Corporation (NASDAQ:NVDA) stock worth around $15,000-$50,000. The transaction was disclosed almost two weeks after it was made.
On August 9, Truist analyst William Stein maintained a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) stock and lowered the price target to $216 from $283, noting the demand for the data center and AI segments of the firm would remain constructive in the coming months.
At the end of the first quarter of 2022, 102 hedge funds in the database of Insider Monkey held stakes worth $6.3 billion in NVIDIA Corporation (NASDAQ:NVDA), compared to 110 the preceding quarter worth $10.4 billion.
In its Q1 2022 investor letter, RiverPark Funds, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ:NVDA) was one of them. Here is what the fund said:
“NVIDIA Corporation (NASDAQ:NVDA) is the leading designer of graphics processing chips (commonly known as GPU’s- graphics processing units), required for powerful computer processing. Over the past 20 years, the company has evolved through innovation and adaptation from a predominantly gaming- focused chip vendor to one of the largest semiconductor/software vendors in the world, dominating the core secular growth markets of gaming, data centers and professional visualization. Over the past decade, the company has grown revenue at a compound annual rate of over 20% while expanding operating margins and, through its asset light business model, producing ever increasing amounts of free cash flow. For 2021 the company generated 61% revenue growth to $27 billion, expanded its EBITDA margins to over 44% and generated over $8 billion of free cash flow. Over the past five years, the company has generated a cumulative $23 billion of FCF after cumulative capital expenditures of less than $4 billion.
We expect future growth to remain robust as NVIDIA Corporation (NASDAQ:NVDA) chips and software are critical to many of the core technologies being adopted globally, including cloud computing, virtual reality and advanced artificial intelligence. As with NFLX, we took advantage of the over 40% recent drop in the company’s shares over the last several months to initiate a small position.”
You can also take a peek at 10 Best Healthcare Dividend Stocks to Buy Now and 10 Dividend Stocks with Over 20 Years of Dividend Increases.
