These 5 Semiconductor Stocks Are Popular On Reddit

4. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 76

Intel Corporation (NASDAQ:INTC) is the world’s largest chip manufacturer. Headquartered in Santa Clara, California, United States, the company is widely credited with having invented the modern day transistor, which is a simple circuit that forms the backbone of a chip.

Intel Corporation (NASDAQ:INTC) is one chip company that is investing heavily in its future. During its fiscal first quarter the company spent 17% of its revenue on research and development (R&D) and owing to its key position as the only leading edge Western chip manufacturer, the company received more than $7 billion in funds from the EU last year to build new chip plants and is hoping to receive U.S. government support as well.

Susquehanna reduced Intel Corporation (NASDAQ:INTC)’s share price target to $40 from $42 in July 2022, as it outlined that a weaker personal computing market might not bode well for the chip firm. Insider Monkey’s 912 hedge fund survey for Q1 2022 revealed that 76 had invested in the company.

Intel Corporation (NASDAQ:INTC)’s largest investor is Seth Klarman’s Baupost Group which owns 16 million shares that are worth $822 million.

Baron Funds mentioned Intel Corporation (NASDAQ:INTC) in its first quarter of 2022 investor letter, outlining that:

“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.”