5 Most Undervalued NASDAQ Stocks To Buy According To Hedge Funds

2. Intel Corporation (NASDAQ:INTC)

Number of Hedge Fund Holders: 69

P/E Ratio as of January 24: 9.37

Intel Corporation (NASDAQ:INTC) is a California-based company specializing in the design, manufacture, and sale of computer products and technologies worldwide. It is one of the most undervalued NASDAQ stocks to invest in. On January 24, Truist analyst William Stein raised the firm’s price target on Intel Corporation (NASDAQ:INTC) to $33 from $29 and assigned a Hold rating to the shares. The decision was made as part of a broader research note with a more positive outlook for semiconductor and AI companies. 

According to Insider Monkey’s third quarter database, 69 hedge funds were long Intel Corporation (NASDAQ:INTC), compared to 65 funds in the preceding quarter. John Overdeck and David Siegel’s Two Sigma Advisors is a leading stakeholder in the company, with more than 15 million shares worth $390.5 million. 

ClearBridge Investments made the following comment about Intel Corporation (NASDAQ:INTC) in its Q3 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.”