5 Most Undervalued Stocks to Buy Now

4. Intel Corporation (NASDAQ:INTC)

PE Ratio as of November 4: 8.66

Number of Hedge Fund Holders: 65

On October 28, Summit Insights analyst Kinngai Chan upgraded Intel Corporation (NASDAQ:INTC) to Buy from Hold. This October, Northland analyst Gus Richard reiterated his $52 price target and an Outperform rating on Intel Corporation (NASDAQ:INTC).

Intel Corporation (NASDAQ:INTC) has pulled back in 2022 and is presenting an attractive buying opportunity for long-term investors. As of November 4, the stock is trading at a PE multiple of 8x and is awarding shareholders with a forward dividend yield of 5.14%.

At the end of Q2 2022, 65 hedge funds were eager on Intel Corporation (NASDAQ:INTC) and held stakes worth $2.53 billion in the company. Of those, Generation Investment Management was the top investor in the company and held a position worth $552.5 million.

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

“Then, there is the case of Intel Corporation (NASDAQ:INTC). A blue-chip tech champion with a market capitalization of over $500 billion in early 2000, the stock was trading at a P/E multiple of 42. It was a fast-growing company whose stock price and multiple declined more or less in line with its peers. However, unlike Google, Intel’s net income has grown from $7.3 billion in 1999 to $19.9 billion in 2021, a compounded annual growth rate of just 4.7%. Its growth from the dot com era has not proven to be durable, and Intel has yet to trade at the price it attained in 1999.”