5 Large-Cap Stocks With Insider Buying

2. Intel Corporation (NASDAQ:INTC)

Market Cap as of December 14: $119.12 Billion

Number of Hedge Fund Holders: 69

On November 18 it was disclosed that director Bu Lip Tan bought 50,000 common shares of Intel Corporation (NASDAQ:INTC) at $29.49 per share. The transaction was valued at $1.47 million. As of December 14, Intel Corporation (NASDAQ:INTC) is worth $119.12 billion and is offering a dividend yield of 5.17%.

On November 22, Mizuho analyst Vijay Rakesh reinstated coverage of Intel Corporation (NASDAQ:INTC) with a Neutral rating and $32 price target. This November, Cowen analyst Matthew Ramsay resumed coverage of Intel Corporation (NASDAQ:INTC) with a Market Perform rating and a $31 price target.

At the end of the third quarter of 2022, 69 hedge funds disclosed stakes in Intel Corporation (NASDAQ:INTC). The total value of these stakes amounted to $1.91 billion. As of September 30, Two Sigma Advisors is the largest investor in Intel Corporation (NASDAQ:INTC) and has a position worth $390.4 million in the company.

Here is what ClearBridge Investments had to say about Intel Corporation (NASDAQ:INTC) in its third-quarter 2022 investor letter:

“Also on the detractor side, Intel Corporation (NASDAQ:INTC) delivered a disappointing revenue miss and lowered full-year revenue and earnings guidance as COVID-19-driven demand for PCs abated (where Intel enjoys half its sales) and a delay in its flagship Sapphire Rapids CPU hurt its data center business. Despite these issues, we still believe Intel is an economically sensitive turnaround story with substantial upside.”