5 Cheap Value Stocks To Buy According To Seth Klarman

2. Intel Corporation (NASDAQ:INTC)

Baupost Group’s Stake Value: $1,220,761,000
Percent of Baupost Group’s 13F Portfolio: 9.9%
Number of Hedge Fund Holders: 78
P/E Ratio: 12.09

Intel Corporation (NASDAQ:INTC) is an American multinational technology company that is considered one of the largest chip manufacturers in the world. The company stands second on our list of the cheap value stocks to buy according to Seth Klarman. 

This July, Argus lifted its price target on Intel Corporation (NASDAQ:INTC) to $120, while keeping a ‘Buy’ rating on the shares. 

As of Q2 2021, 78 hedge funds tracked by Insider Monkey have positions in Intel Corporation (NASDAQ:INTC), compared with 83 in the previous quarter. These stakes are valued at $6.76 billion. Fisher Asset Management is the company’s leading shareholder, with 31.4 million shares. 

Alger mentioned Intel Corporation (NASDAQ:INTC) in its first-quarter 2021 investor letter. Here is what the firm has to say: 

“Short exposure to Intel also detracted from performance. Intel designs and manufactures semiconductors for the computing and communications industries. Intel’s proprietary intellectual strength and manufacturing prowess versus the competition is deteriorating, which is causing the company to lose market share and profit opportunities. The short position detracted from portfolio returns as the share price reacted positively to the announcement of Pat Gelsinger being hired as chief executive officer, a stronger-than-anticipated quarterly earnings report driven by unusually robust PC sales that we believe are unsustainable and the unveiling of “Intel Unleashed,” a new long-term program to help improve manufacturing and spur innovation. This program involves opening two fabrication plants in Arizona, which confirms Intel’s commitment to continue as an integrated design manufacturer. Importantly, Intel continues to experience issues with its next generation server chips which are disadvantaging Intel versus the competition.”