5 Best Computer Hardware Stocks To Buy Now

3. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 62

Intel Corporation (NASDAQ:INTC) is a global company involved in the design, development, manufacturing, marketing, and sale of computing and associated products. The company provides a range of platform products including central processing units and chipsets, as well as system-on-chip and multi-chip packages. Additionally, Intel Corporation (NASDAQ:INTC) offers accelerators, boards, systems, connectivity products, and memory and storage products. Its products cater to various computing needs worldwide. Intel Corporation (NASDAQ:INTC) is one of the best computer hardware stocks to buy. 

On April 28, Truist increased its price target on Intel Corporation (NASDAQ:INTC) from $29 to $32 and maintained a Hold rating on the company’s shares following a smaller-than-expected loss in Q1 earnings. Intel Corporation (NASDAQ:INTC)’s performance improved significantly after two challenging quarters, as per Truist. However, while the management’s sentiment has improved, Truist would like to see additional evidence before becoming more positive on the stock.

According to Insider Monkey’s fourth quarter database, 62 hedge funds were long Intel Corporation (NASDAQ:INTC), compared to 69 funds in the last quarter. D E Shaw is a significant position holder in the company, with 13.3 million shares worth $353.7 million. 

ClearBridge Large Cap Growth Strategy made the following comment about Intel Corporation (NASDAQ:INTC) in its Q4 2022 investor letter:

“A third approach to return generation is purchasing idiosyncratic businesses that largely control their own destiny. Intel Corporation (NASDAQ:INTC), which we purchased in the first quarter on the premise that it would develop a leading domestic foundry business, has struggled with execution missteps and product delays. We are maintaining the position to provide ongoing exposure to semiconductors.”