5 Cheap Semiconductor Stocks To Buy Now

4. Intel Corporation (NASDAQ:INTC)

PE Ratio as of January 3: 8.15

Number of Hedge Fund Holders: 69

Intel Corporation (NASDAQ:INTC) has suffered in 2022, however, the blue chip is offering investors a chance to rack up shares into weakness. As of January 3, Intel Corporation (NASDAQ:INTC) has a trailing twelve-month PE ratio of 8.15 and is one of the best cheap semiconductor stocks to buy now.

On January 3, Intel Corporation (NASDAQ:INTC) unveiled its 13th Generation Intel Core mobile processors. Intel Corporation (NASDAQ:INTC) has a strong market position and is well-positioned to benefit from the long-term growth trends in the technology sector. This includes the growth of cloud computing, the Internet of Things, 5G networks, and artificial intelligence. Moreover, the company pays its shareholders to wait, and is offering a forward dividend yield of 5.52%, as of January 3.

On November 22, Mizuho analyst Vijay Rakesh reinstated coverage of Intel Corporation (NASDAQ:INTC) with a Neutral rating and a $32 price target.

At the close of the third quarter of 2022, Intel Corporation (NASDAQ:INTC) was held by 69 hedge funds. The collective stakes of these hedge funds amounted to $1.91 billion. As of September 30, Two Sigma Advisors is the largest shareholder in Intel Corporation (NASDAQ:INTC) with a stake worth $390.4 million.

Here is what ClearBridge Investments had to say about Intel Corporation (NASDAQ:INTC) in its third-quarter 2022 investor letter:

“Also on the detractor side, Intel Corporation (NASDAQ:INTC) delivered a disappointing revenue miss and lowered full-year revenue and earnings guidance as COVID-19-driven demand for PCs abated (where Intel enjoys half its sales) and a delay in its flagship Sapphire Rapids CPU hurt its data center business. Despite these issues, we still believe Intel is an economically sensitive turnaround story with substantial upside.”