15 Dow Stocks Listed and Ranked By 2022 Hedge Fund Bullishness Index

10. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 76

Intel Corporation (NASDAQ:INTC) deals in semiconductor chips, processors and other computer hardware. The company has plans to invest billions to boost its semiconductor manufacturing capabilities and recoup lost market share from rival Advanced Micro Devices, Inc. (NASDAQ:AMD).

Hedge fund sentiment around Intel Corporation (NASDAQ:INTC) was positive in the first quarter of 2022. 76 hedge funds were long the company compared to 72 funds in the previous quarter. With 16.59 million shares worth $822 million, Baupost Group was the biggest Q1 shareholder of Intel Corporation (NASDAQ:INTC).

 Here is what O’Keefe Stevens Advisory had to say about Intel Corporation (NASDAQ:INTC) in its Q1 2022 investor letter:

“Intel announced they are removing stock-based compensation from non-GAAP earnings in 2022 to report results aligning with semiconductor peers. This may seem like a reasonable thing to do as comparability between peers becomes easier. On the other hand, what exactly is the point of adjusted earnings? It is not to conform to some industry norm or because the management teams need to make performance metrics. The point of adjusting earnings is to present results in a light that more closely reflects the actual underlying performance of the business. That is, backing out expenses that might be one-time in nature, such as legal or fire expenses. First off, share-based compensation is an actual expense. Decreasing my ownership stake in a company without receiving any compensation is not free. If a company paid its employees in all stock, would they add back the entire SBC? What a margin profile that would be. Second, should a company be worried about reporting results similar to other companies? Every company is unique. Management should not waste time determining what expenses should be excluded. Run the business, don’t worry about adjusting the numbers.”