AMD Stock (NASDAQ:AMD)
AMD (NASDAQ:AMD) paced gains among semiconductor companies on Tuesday as several large hedge funds added to their holdings in the firm run by Dr. Lisa Su.
The AMD stock rose by about 5% when it was revealed that the hedge funds Third Point, Duquesne Family Office, and Hudson Bay had purchased or increased their interests in the company during the period in question.
During the first three months of the year, Shell Asset Management, the asset management division of multinational oil conglomerate Shell plc, also increased its AMD (NASDAQ:AMD) holdings.
According to its 13-F filing, hedge fund Viking Global, managed by Ole Andreas Halvorsen, sold all of its shares in the company during the time.
On Tuesday, the financial company Bernstein said that the PC market seems to be “normalizing” to levels observed before the COVID-19 epidemic.
In the first quarter, PC shipments were down about 30% year over year but only seem extremely awful when compared to levels seen during the pandemic, according to analyst Stacy Rasgon, who rates both AMD and Intel (NASDAQ:INTC) market performance.
Steve Cohen, the owner of the New York Mets, used his hedge fund, Point72, to increase its holdings in Intel over time.
AMD stock rival Nvidia surged over 2%, while Intel fell by around 0.4%.
On May 24th, Nvidia, Santa Clara, California, will announce its quarterly financial results.
After unveiling two new solid-state drives—the Micron 6500 ION NVMe SSD and the Micron XTR NVMe SSD—shares of Micron Technology (NASDAQ:MU) hovered around the zero line.
According to a statement by Micron, these drives represent a “major advancement for data centers by lowering operating costs and improving storage efficiency.”
After announcing an agreement to provide Kempower with silicon carbide and diode technology for its electric vehicle chargers, shares of ON Semiconductor (NASDAQ:ON) climbed by around 0.8%.
Broadcom, NXP Semiconductors, and Analog Devices all had slight increases. At the same time, Qualcomm, Texas Instruments, and Microchip Technologies all fell on Tuesday.
Qorvo and Skyworks Solutions are just two examples of smartphone-related semiconductor stocks that were down today.
Featured Image: Freepik
Author Shariq Khan 
