5 Stocks That Benefit from Global Chip Shortage

3. Intel Corporation (NASDAQ: INTC)

Number of Hedge Fund Holders: 78     

Intel Corporation (NASDAQ: INTC) is a California-based firm that sells essential technologies for smart devices. It is ranked third on our list of 10 stocks that benefit from global chip shortage.

On July 23, investment advisory BMO Capital maintained an Outperform rating on Intel Corporation (NASDAQ: INTC) stock but lowered the price target to $70 from $75, noting that the gross margins for the firm in the second quarter were high but compression was expected. 

At the end of the second quarter of 2021, 78 hedge funds in the database of Insider Monkey held stakes worth $6.7 billion in Intel Corporation (NASDAQ: INTC), down from 83 in the previous quarter worth $7.6 billion.