In this piece, we’ll take a look at the 5 Undervalued Chip Stocks To Buy. For more such companies, go to 10 Undervalued Chip Stocks To Buy.
5. QUALCOMM Incorporated (NASDAQ:QCOM)
Number of Recent Mentions: 5
Number of Hedge Fund Holders: 80
QUALCOMM Incorporated (NASDAQ:QCOM) is a global technology company that designs, develops, and manufactures a wide range of wireless technology and mobile communication products. QUALCOMM Incorporated (NASDAQ:QCOM) is a leading provider of wireless technology and mobile communication products, including wireless modems, processors, and RF transceivers. The company’s products are used in a variety of applications, including smartphones, tablets, and other mobile devices, as well as in a range of industries, including automotive, healthcare, and industrial.
On November 3, 2022, T. Michael Walkley, an analyst at Canaccord, reduced his price target on QUALCOMM Incorporated (NASDAQ:QCOM) to $165 while keeping a Buy rating on the company’s stock. The analyst has reduced targets based on the decline in smartphone demand and excess channel inventory.
As per Insider Monkey’s database, 80 hedge funds owned stakes in QUALCOMM Incorporated (NASDAQ:QCOM) at the end of the third quarter. Matrix Capital Management remained the leading stakeholder of the company at the end of Q3 2022.
4. NVIDIA Corporation (NASDAQ:NVDA)
Number of Recent Mentions: 5
Number of Hedge Fund Holders: 89
Established in 1993, NVIDIA Corporation (NASDAQ:NVDA) is a global technology company that designs and manufactures graphics processing units (GPUs) and related software products. NVIDIA Corporation (NASDAQ:NVDA) is a leading provider of GPUs for the gaming, professional visualization, and data center markets. In addition to its GPUs, NVIDIA Corporation (NASDAQ:NVDA) also offers a range of software products, including graphics drivers, development tools, and game engine integrations. The company also provides related services to its customers, including technical support and maintenance services.
On December 8, 2022, Ivan Feinseth, an analyst at Tigress Financial, reduced his price target on NVIDIA Corporation (NASDAQ:NVDA) to $250 while keeping a Buy rating on the stock. The analyst believes that the company’s dominant position in artificial intelligence and several new collaborations and products will help the company to overcome short-term challenges and will prepare it for future upcycle.
89 hedge funds were long on the company’s stock at the end of the third quarter, according to Insider Monkey’s database. Fisher Asset Management had the biggest long position in the company at the end of Q3 2022.
3. Intel Corporation (NASDAQ:INTC)
Number of Recent Mentions: 6
Number of Hedge Fund Holders: 69
Intel Corporation (NASDAQ:INTC) is a multinational corporation and technology company based in Santa Clara, California. In addition to its core business of designing and manufacturing microprocessors, Intel also produces a range of other technology products, including motherboards, graphics processing units, and solid-state drives. Intel Corporation (NASDAQ:INTC) also has a significant presence in the internet of things (IoT) market, with a range of products and solutions for connecting devices to the internet and enabling the creation of smart environments.
On October 28, 2022, Gus Richard, an analyst at Northland, reiterated his Outperform rating on Corporation (NASDAQ:INTC) with a price target of $52. According to the analyst, the company’s roadmap of five nodes in four years will result in visible benefits in the second half of 2023.
At the end of Q3 2022, 69 hedge funds in Insider Monkey’s database were long Intel Corporation (NASDAQ:INTC). Two Sigma Advisors remained the leading stakeholder of the company at the end of Q3 2022.
2. Texas Instruments Incorporated (NASDAQ:TXN)
Number of Recent Mentions: 7
Number of Hedge Fund Holders: 59
Founded in 1930, Texas Instruments Incorporated (NASDAQ:TXN) is a global semiconductor and technology company based in Dallas, Texas. Some of the key products and services offered by Texas Instruments Incorporated (NASDAQ:TXN) include microprocessors, microcontrollers, and application-specific integrated circuits (ASICs) for use in a wide range of electronic devices. The company also produces a range of sensors and other components for use in automotive and industrial applications.
On October 26, 2022, Cody Acree, an analyst at Benchmark, reduced his price target on Texas Instruments Incorporated (NASDAQ:TXN) to $189 while keeping a Buy rating on the company’s stock. According to the analyst, the company’s cautious fourth-quarter outlook aligns with much of the market’s expectations.
According to Insider Monkey’s database, 59 hedge funds owned stakes in the company at the end of the September quarter. First Eagle Investment Management held the biggest stake in Texas Instruments Incorporated (NASDAQ:TXN) at the end of Q3 2022.
1. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Recent Mentions: 7
Number of Hedge Fund Holders: 87
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is a multinational semiconductor foundry based in Hsinchu, Taiwan. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) provides a range of services to customers in a variety of markets, including consumer electronics, automotive, healthcare, and telecommunications. The company’s advanced manufacturing processes and state-of-the-art facilities allow it to produce high-quality semiconductor products with excellent performance and reliability.
On October 13, 2022, Bruce Lu, an analyst at Goldman Sachs, reduced his price target to $89 while keeping a Buy rating on the stock. According to the analyst, the company has reduced its 2022 CAPEX guidance to $36 billion and sounds conservative going forward in 2023.
At the end of Q3 2022, 87 hedge funds in Insider Monkey’s database were long Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). Berkshire Hathaway remained the leading stakeholder of the company at the end of Q3 2022.
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