Analysts are Slashing Price Targets of These 5 Semiconductor Stocks

In this article, we discuss 5 semiconductor stocks that analysts are slashing price targets of. If you want to read our discussion on the semiconductor industry, go directly to Analysts are Slashing Price Targets of These 10 Semiconductor Stocks.

5. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 76

Intel Corporation (NASDAQ:INTC) is a semiconductor company that is excelling in the field of cloud computing, data center, the internet of things (IoT), and PC solutions.

The target price of the Santa Clara, California-based company was reduced from $45 to $40 by Blayne Curtis at Barclays on July 11. The analyst reiterated an Underweight rating on Intel Corporation (NASDAQ:INTC) stock. Curtis lowered the target price as he anticipates a 17% dip in Intel Corporation’s (NASDAQ:INTC) production of notebooks this year as compared to a prior forecast of a decline of 12%. The analyst recommends investors stay away from Intel Corporation (NASDAQ:INTC) stock as he believes the downturn has begun. Intel Corporation (NASDAQ:INTC) is set to announce its Q2 2022 results on July 28 with expected revenue and EPS of $17.98 billion and 52 cents, respectively.

Here’s what Baron Funds said about Intel Corporation (NASDAQ:INTC) in its Q1 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.”

Of the 912 hedge funds in Insider Monkey’s database, 76 funds held a stake in Intel Corporation (NASDAQ:INTC) as of Q1 2022.