Kestra Advisory Services LLC raised its holdings in shares of Intel Corporation (NASDAQ:INTC – Free Report) by 3.0% in the third quarter, HoldingsChannel reports. The firm owned 524,525 shares of the chip maker’s stock after buying an additional 15,385 shares during the quarter. Kestra Advisory Services LLC’s holdings in Intel were worth $63,064,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp increased its stake in shares of Intel by 1.2% during the second quarter. State Street Corp now owns 216,849,675 shares of the chip maker’s stock valued at $30,278,720,000 after buying an additional 2,528,657 shares during the period. Primecap Management Co. CA bought a new position in shares of Intel during the second quarter valued at approximately $10,507,291,000. Amundi lifted its stake in Intel by 14.9% in the first quarter. Amundi now owns 38,969,192 shares of the chip maker’s stock worth $1,719,710,000 after acquiring an additional 5,045,936 shares during the period. Bank of America Corp DE lifted its stake in Intel by 35.7% in the second quarter. Bank of America Corp DE now owns 31,724,362 shares of the chip maker’s stock worth $4,429,673,000 after acquiring an additional 8,342,514 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in Intel by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 30,700,929 shares of the chip maker’s stock worth $1,354,832,000 after acquiring an additional 112,054 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.
More Intel News
Here are the key news stories impacting Intel this week:
- Positive Sentiment: CEO Lip-Bu Tan bought 150,000 shares for about $9.7 million, increasing his holdings by 11.4%. The purchase may signal confidence in Intel’s recovery, although the stock was below his purchase price afterward. Details on the CEO’s stock purchase
- Positive Sentiment: Intel is seeing brisk demand for server CPUs, with demand expected to exceed supply for the next couple of years. Its collaboration with Oracle could help sustain growth in its data-center business. Intel and Oracle collaboration
- Negative Sentiment: The main pressure was Intel’s fourth-quarter revenue forecast of $15 billion to $16 billion, which was below expectations. The outlook weighed on shares despite strong server demand, as investors assessed whether revenue growth can keep pace with expectations. Report on Intel’s fourth-quarter outlook
- Negative Sentiment: A wider semiconductor selloff added to the pressure. Investors worried that election outcomes and proposed policy changes could slow data-center construction, potentially putting a brake on AI-related infrastructure spending that supports chip demand. Analysis of political concerns and chip stocks
Insider Transactions at Intel
In other Intel news, CEO Lip Tan acquired 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were acquired at an average price of $64.73 per share, with a total value of $9,709,500.00. Following the completion of the purchase, the chief executive officer directly owned 1,464,669 shares of the company’s stock, valued at approximately $94,808,024.37. The trade was a 11.41% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Intel from a “hold” rating to an “outperform” rating in a report on Monday, October 19th. Evercore restated an “outperform” rating and issued a $133.00 price objective on shares of Intel in a report on Friday, October 30th. Northland Securities set a $93.00 target price on shares of Intel in a research report on Friday, October 30th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $100.00 target price on shares of Intel in a research note on Sunday, October 25th. Finally, Daiwa Securities Group lowered shares of Intel from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twenty-eight have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $97.42.
Check Out Our Latest Report on Intel
Intel Stock Performance
Shares of Intel stock opened at $52.25 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.86 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $277.71 billion, a P/E ratio of -21.68, a P/E/G ratio of 6.23 and a beta of 2.42. The business has a fifty day simple moving average of $98.66 and a two-hundred day simple moving average of $86.56. Intel Corporation has a 12 month low of $32.89 and a 12 month high of $142.35.
Intel (NASDAQ:INTC – Get Free Report) last released its earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. The firm had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.56 billion. Intel had a negative net margin of 20.09% and a positive return on equity of 4.70%. The company’s revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 EPS. On average, equities analysts forecast that Intel Corporation will post 1.04 earnings per share for the current fiscal year.
About Intel
Intel Corporation (NASDAQ:INTC) is a global semiconductor company that designs and manufactures computing and connectivity products. Its portfolio includes Intel Core processors for personal computers, Xeon processors for data centers and enterprise systems, and products for networking, edge computing, graphics, and artificial intelligence workloads.
Through Intel Foundry, the company also provides semiconductor manufacturing and technology-development services for external customers. Intel develops process technologies, advanced packaging, and other manufacturing capabilities intended to support its own products and third-party chip designs.
Founded in 1968 by Robert Noyce and Gordon Moore, Intel helped establish the modern microprocessor industry and has historically supplied processors for PCs, servers, and other computing systems.
Featured Articles
- Five stocks we like better than Intel
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
- Oil, Uranium, or Renewables? 3 Energy Plays for a Changing Market
Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Corporation (NASDAQ:INTC – Free Report).
Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.
