5 Best Beaten Down Stocks to Buy Now

2. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 76

Year-to-Date Price Share Decline as of August 1: 31.8%

Date of Intel Corporation (NASDAQ:INTC) hitting a 52-week low: July 29

Intel Corporation (NASDAQ:INTC) is an information technology company that designs and manufactures computer products and technologies globally. It is based in Santa Clara, California.

Gus Richard, an analyst at Northland, holds an Outperform rating on Intel Corporation (NASDAQ:INTC) shares as of this July. The analyst also placed a $55 price target on the company’s shares.

Currently, there is a predicted upside of 23.7% on Intel Corporation (NASDAQ:INTC) shares, making now a good time to buy the 52-week low stock at a discount. Analyst Richard also noted that products built on Intel 4 and Intel 3 will help turn the tide on Intel’s current losses. Intel 4 is the 10-nanometer successor node to Intel 7, and is succeeded by the even more enhanced Intel 3. The Intel 4 process will allow the company to use extreme ultraviolet (EUV) lithography in its chips, and will be used in products that will be released in 2023.

There were 76 hedge funds long Intel Corporation (NASDAQ:INTC) in the first quarter, with a total stake value of $3.2 billion.