5 Best Cheap Semiconductor Stocks to Buy and Hold

4. Intel Corporation (NASDAQ:INTC)

PE Ratio as of August 29: 7.15

Number of Hedge Fund Holders: 65

On August 23, Intel Corporation (NASDAQ:INTC) announced that it has signed an agreement with Brookfield Infrastructure Partners (NYSE:BIP) by which Brookfield Infrastructure Partners (NYSE:BIP) will invest roughly $15 billion to help Intel Corporation (NASDAQ:INTC) expand its operations. Intel Corporation (NASDAQ:INTC) will fund 51% of its factory expansion at the company’s Ocotillo campus in Arizona, with Brookfield Infrastructure Partners investing the other 49%. The transaction is expected to close in the second half of 2022.

This August, it was reported in a regulatory filing that Patrick Gelsinger, CEO of Intel Corporation (NASDAQ:INTC), purchased 14,800 common shares of the company’s stock at $33.86 per share, for a total amount of $0.50 million.

On August 1, Northland analyst Gus Richard maintained his buy-side ‘Outperform’ rating and $55 price target on Intel Corporation (NASDAQ:INTC). As of August 29, Intel Corporation (NASDAQ:INTC) is trading at a PE ratio of 7.15x and shares offer a forward dividend yield of 4.38%.

At the close of Q2 2022, 65 hedge funds held stakes in Intel Corporation (NASDAQ:INTC) worth $2.53 billion. As of June 30, Generation Investment Management owns roughly 14.8 million shares of Intel Corporation (NASDAQ:INTC) and is the largest shareholder in the company. The fund’s stake is valued at $553 million.

Here is what the Baron Funds had to say about Intel Corporation (NASDAQ:INTC) in its first-quarter 2022 investor letter:

“Intel’s (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.”