12 Best Nanotechnology Stocks to Buy According to Hedge Funds

5. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 68

Intel Corporation (NASDAQ:INTC), a global leader in semiconductor manufacturing, is best known for creating the x86 microprocessor series, the foundation of most personal computers. At its core, the company thrives on nanotechnology, producing transistors as small as 7 nanometers and leading innovations like FinFET designs.

In a strategic move to strengthen its position in the foundry market, Intel Corporation (NASDAQ:INTC) partnered with Arm last year to develop low-power compute system-on-chips (SoCs) using Intel’s 18A process through its Intel Foundry Services (IFS). On top of that, Intel’s purchase of cutting-edge extreme ultraviolet lithography tools from ASML signals its ambitious plans to produce 1.8nm chips by 2025.

On December 3, Evercore ISI reaffirmed its In Line rating for Intel Corporation (NASDAQ:INTC) with a price target of $26, following the announcement of CEO Pat Gelsinger’s retirement. While recognizing the progress made under Gelsinger’s leadership in closing the technology gap with competitors like TSMC, Evercore ISI flagged ongoing challenges, including competition from AMD, NVIDIA, and Intel’s customers developing custom CPUs and AI processors.

Intel’s Q3 2024 financial results showcased resilience, with revenue reaching $13.3 billion, a 4% sequential increase. The company also highlighted its Mobileye division, forecasting $485 million in full-year revenue, and its programmable chips division, Altera, which achieved a 14% sequential growth, generating $412 million in revenue for the quarter ending September.