Billionaire Ray Dalio is Dumping These 5 Stocks

4. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 69

Number of Shares Owned by Ray Dalio’s Fund in Q2: 1.54M

The world’s largest semiconductor chip manufacturer by revenue, Intel Corporation (NASDAQ:INTC) is an American multinational corporation and technology company that is involved in the production and sale of semiconductors for IoT devices that are used in cars, healthcare, retail, and energy.

Credit Suisse analyst Chris Caso assumed coverage of Intel Corporation (NASDAQ:INTC) with a Neutral rating and $28 price target on November 15. Based on the analyst’s remarks, the company is investing heavily to catch up with TSMC and Advanced Micro Devices, which will “consume all” its free cash flow for the upcoming years.

Ken Griffin’s Citadel Investment Group is Intel Corporation (NASDAQ:INTC)’s largest investor. It holds a $489.5 million stake in the company. Overall, 69 hedge funds reported holding INTC stocks at the end of Q3 2022.

ClearBridge Investments made the following comment about Intel Corporation (NASDAQ:INTC) in its Q3 2022 investor letter:

“Also on the detractor side, Intel Corporation (NASDAQ:INTC) delivered a disappointing revenue miss and lowered full-year revenue and earnings guidance as COVID-19-driven demand for PCs abated (where Intel enjoys half its sales) and a delay in its flagship Sapphire Rapids CPU hurt its data center business. Despite these issues, we still believe Intel is an economically sensitive turnaround story with substantial upside.”

Follow Intel Corp (NASDAQ:INTC)