Analysts Are Downgrading These 5 Stocks

2. Intel Corporation (NASDAQ:INTC)

Number Of Hedge Fund Holders: 76

On August 2, DZ Bank analyst Ingo Wermann downgraded Intel Corporation (NASDAQ:INTC) to Sell from Hold with a $30 price target. In addition, Moody’s rating outlook for Intel Corporation (NASDAQ:INTC) and Altera was changed to negative from stable at the beginning of August, reflecting the company’s “ongoing challenges to consistently execute on its manufacturing and product development in the face of a weakening macro environment, strong competitive challenges, and supply chain disruptions.”

Based on the data tracked by Insider Monkey, 76 hedge funds were bullish on Intel Corporation (NASDAQ:INTC) in the first quarter of 2022. Baupost Group was the leading stakeholder in Intel Corporation (NASDAQ:INTC) as of Q1 of 2022, with an investment worth $822 million.

Baron Funds, an investment management firm, mentioned Intel Corporation (NASDAQ:INTC) in its first-quarter 2022 investor letter. Here is what they said:

“Intel Corporation (NASDAQ:INTC) capital spending process is guided by a process they appropriately named “copy exactly.” This means that they attempt to “copy exactly” what they have already built and attempt to improve tried and true processes iteratively.”