Dow 30 Stocks List: 15 Stocks Ranked By 2022 Hedge Fund Bullishness Index

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13. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders as of Q3, 2022: 69

Intel Corporation (NASDAQ:INTC) designs, manufactures and sells computer products and technologies worldwide. On October 31, Citi analyst Christopher Danely maintained a Neutral rating on Intel Corporation (NASDAQ:INTC) stock and lowered the price target to $27 from $30, noting that the company reported mixed results and guided well below consensus driven by the PC downturn.

At the end of the third quarter of 2022, 69 hedge funds in the database of Insider Monkey held stakes worth $1.9 billion in Intel Corporation (NASDAQ:INTC), compared to 65 in the preceding quarter worth $2.5 billion.

In its Q3 2022 investor letter, ClearBridge Investments, an asset management firm, highlighted a few stocks and Intel Corporation (NASDAQ:INTC) was one of them. Here is what the fund said:

“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.”

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