5 Top Stock Picks of Billionaire Seth Klarman

3. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 65    

Intel Corporation (NASDAQ:INTC) engages in the design, manufacture, and sale of computer products and technologies. Securities filings reveal that Baupost Group owned over 8.7 million shares of Intel Corporation (NASDAQ:INTC) at the end of June 2022 worth $326 million, representing 4.82% of the portfolio. 

On September 07, Stifel analyst Ruben Roy initiated coverage of Intel Corporation (NASDAQ:INTC) with a Hold rating and a $32 price target, adding that the turn-around strategy of the firm was still in the early innings. 

Among the hedge funds being tracked by Insider Monkey, London-based investment firm Generation Investment Management is a leading shareholder in Intel Corporation (NASDAQ:INTC), with 14 million shares worth more than $552 million. 

In its Q2 2022 investor letter, Baron Funds an asset management firm, highlighted a few stocks and Intel Corporation (NASDAQ:INTC) was one of them. Here is what the fund said:

“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.”