Here’s What Baron Funds Thinks about Intel Corporation (INTC)

Baron Funds, an asset management company, released its “Baron Global Advantage Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund fell 32.3% compared to a 15.7% decline for the MSCI ACWI Index and 20.2% for the MSCI ACWI Growth Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Baron Funds discussed stocks like Intel Corporation (NASDAQ:INTC) in the second quarter investor letter. Headquartered in Santa Clara, California, Intel Corporation (NASDAQ:INTC) is in the business of computer products and technologies. On September 8, 2022, Intel Corporation (NASDAQ:INTC) stock closed at $30.75 per share. One-month return of Intel Corporation (NASDAQ:INTC) was -14.84% and its shares lost 42.89% of their value over the last 52 weeks. Intel Corporation (NASDAQ:INTC) has a market capitalization of $126.259 billion.

Here is what Baron Funds specifically said about Intel Corporation (NASDAQ:INTC)  in its Q2 2022 investor letter:

“Then, there is the case of Intel Corporation (NASDAQ:INTC). A blue-chip tech champion with a market capitalization of over $500 billion in early 2000, the stock was trading at a P/E multiple of 42. It was a fast-growing company whose stock price and multiple declined more or less in line with its peers. However, unlike Google, Intel’s net income has grown from $7.3 billion in 1999 to $19.9 billion in 2021, a compounded annual growth rate of just 4.7%. Its growth from the dot com era has not proven to be durable, and Intel has yet to trade at the price it attained in 1999.”

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Intel Corporation (NASDAQ:INTC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held Intel Corporation (NASDAQ:INTC) at the end of the second quarter which was 76 in the previous quarter.

We discussed Intel Corporation (NASDAQ:INTC) in another article and shared the list of best value stocks to buy. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.