5 Semiconductor Stocks to Watch as Shortage Turns to Glut

2. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 76

YTD Loss as of July 15: 27.42%

Intel Corporation’s (NASDAQ:INTC) biggest end-market is personal computers and computing devices, and with demand for these products contracting by more than 13%, it is one of the semiconductor stocks on analysts’ and investors’ radars. On July 15, Goldman Sachs analyst Toshiya Hari cut his price target on Intel Corporation (NASDAQ:INTC) to $30 from $40 and reiterated a Sell rating on the shares.

Based on 12-month price targets from 20 Wall Street analysts over the past 3 months, Intel Corporation (NASDAQ:INTC) has received 5 Buy ratings, 9 Hold ratings, and 6 Sell ratings. The average price target for Intel Corporation (NASDAQ:INTC) sits at roughly $48, with $72 on the upside and $30 on the downside. The average price target implies a 25% upside from the stock’s current price, which closed at $38.62 on July 15.

At the end of Q1 2022, 76 hedge funds held stakes in Intel Corporation (NASDAQ:INTC) worth $3.15 billion. This is compared to 72 positions in the previous quarter with stakes worth $5.50 billion.

As of June 30, Beech Hill Partners is the largest shareholder in Intel Corporation (NASDAQ:INTC) and has stakes worth $2.23 million in the company.

Here is what Baron Funds, an asset management firm, 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.”