Should You Hold Intel Corporation (INTC) for the Long Term?

ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed its benchmark, the Russell 1000 Growth Index. The strategy gained in seven out of nine sectors it invested in the quarter on an absolute basis. Healthcare and industrials sectors were the primary contributors while the consumer discretionary sector detracted from the performance. Overall stock selection and sector allocation contributed to the strategy’s performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Large Cap Growth Strategy highlighted stocks like Intel Corporation (NASDAQ:INTC) in the fourth quarter 2022 investor letter. Headquartered in Santa Clara, California, Intel Corporation (NASDAQ:INTC) is a computing and related products designer, developer and manufacturer. On March 6, 2023, Intel Corporation (NASDAQ:INTC) stock closed at $25.99 per share. One-month return of Intel Corporation (NASDAQ:INTC) was -10.53%, and its shares lost 45.28% of their value over the last 52 weeks. Intel Corporation (NASDAQ:INTC) has a market capitalization of $109.217 billion.

ClearBridge Large Cap Growth Strategy made the following comment about Intel Corporation (NASDAQ:INTC) in its Q4 2022 investor letter:

“A third approach to return generation is purchasing idiosyncratic businesses that largely control their own destiny. Intel Corporation (NASDAQ:INTC), which we purchased in the first quarter on the premise that it would develop a leading domestic foundry business, has struggled with execution missteps and product delays. We are maintaining the position to provide ongoing exposure to semiconductors.”

Photo by Slejven Djurakovic on Unsplash

Intel Corporation (NASDAQ:INTC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 62 hedge fund portfolios held Intel Corporation (NASDAQ:INTC) at the end of the fourth quarter which was 69 in the previous quarter.

We discussed Intel Corporation (NASDAQ:INTC) in another article and shared the list of best AI stocks for 2023. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.