5 Famous Value Stocks that Underperformed in 2022

2. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 76    

PE Ratio: 7.74

Percentage Decline in Share Price YTD as of August 12: 32.34%

Intel Corporation (NASDAQ:INTC) markets key technologies for smart devices. On July 28, the company posted earnings for the second quarter of 2022, reporting earnings per share of $0.29, missing market estimates by $0.41. The revenue over the period was $15.3 billion, down close to 17% compared to the revenue over the same period last year and missing estimates by $2.6 billion. The firm also lowered full-year revenue guidance to $68 billion against estimates of $74 billion.  

On July 29, Wedbush analyst Matt Bryson maintained an Underperform rating on Intel Corporation (NASDAQ:INTC) stock and lowered the price target to $35 from $44, noting that the earnings results of the firm in the second quarter were as terrible as the outlook. 

At the end of the first quarter of 2022, 76 hedge funds in the database of Insider Monkey held stakes worth $3.1 billion in Intel Corporation (NASDAQ:INTC), compared to 72 in the previous quarter worth $5.5 billion.

Baron Funds, an asset management firm, mentioned Intel Corporation (NASDAQ:INTC) in its first-quarter 2022 investor letter. Here is what they said:

“Intel Corporation (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.”