Fifth Third Bancorp lowered its position in shares of Intel Corporation (NASDAQ:INTC – Free Report) by 3.0% in the 3rd quarter, Holdings Channel reports. The fund owned 1,260,334 shares of the chip maker’s stock after selling 39,360 shares during the period. Fifth Third Bancorp’s holdings in Intel were worth $151,530,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of INTC. Vestor Capital LLC bought a new stake in shares of Intel during the first quarter valued at approximately $9,441,000. University of Texas Texas AM Investment Management Co. bought a new position in Intel in the 2nd quarter worth approximately $4,995,000. Western Wealth Management LLC grew its holdings in Intel by 57.7% in the 1st quarter. Western Wealth Management LLC now owns 21,223 shares of the chip maker’s stock worth $937,000 after buying an additional 7,764 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Intel by 4.7% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,493,552 shares of the chip maker’s stock worth $208,541,000 after buying an additional 67,588 shares in the last quarter. Finally, Bank of America Corp DE increased its position in Intel by 35.7% in the 2nd quarter. Bank of America Corp DE now owns 31,724,362 shares of the chip maker’s stock valued at $4,429,673,000 after acquiring an additional 8,342,514 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.
Intel Stock Performance
INTC opened at $62.50 on Thursday. The company has a quick ratio of 1.95, a current ratio of 2.31 and a debt-to-equity ratio of 0.47. The firm has a market cap of $332.19 billion, a PE ratio of 63.19, a P/E/G ratio of 6.22 and a beta of 2.42. The business has a fifty day simple moving average of $96.19 and a 200-day simple moving average of $86.73. Intel Corporation has a fifty-two week low of $32.89 and a fifty-two week high of $142.35.
Intel (NASDAQ:INTC – Get Free Report) last announced its earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.11. Intel had a positive return on equity of 4.70% and a negative net margin of 20.09%. The company had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16.56 billion. During the same period in the previous year, the firm earned $0.23 earnings per share. Intel’s revenue for the quarter was up 20.9% compared to the same quarter last year. As a group, equities analysts predict that Intel Corporation will post 1.04 EPS for the current fiscal year.
Insider Buying and Selling at Intel
In related news, CEO Lip Tan purchased 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were purchased at an average price of $64.73 per share, with a total value of $9,709,500.00. Following the purchase, the chief executive officer owned 1,464,669 shares of the company’s stock, valued at $94,808,024.37. This trade represents a 11.41% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.05% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the stock. Sanford C. Bernstein upgraded shares of Intel from a “hold” rating to an “outperform” rating in a research report on Monday, October 19th. TD Cowen dropped their price target on shares of Intel from $95.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, October 30th. KGI Securities raised shares of Intel from a “neutral” rating to an “outperform” rating and set a $95.00 price target for the company in a research note on Friday, October 30th. Citigroup decreased their price objective on shares of Intel from $130.00 to $100.00 and set a “buy” rating for the company in a report on Friday, October 30th. Finally, Morgan Stanley set a $85.00 target price on Intel in a report on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twenty-eight have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $97.42.
View Our Latest Analysis on INTC
Key Stories Impacting Intel
Investors following INTC have been watching these stories:
- Positive Sentiment: Investors also have recent operating results to point to: Intel reported third-quarter revenue growth and strong data-center performance, while adjusted earnings exceeded analysts’ expectations. CEO Lip-Bu Tan’s reported stock purchases may also support confidence in the turnaround, though they do not resolve execution risks. Intel Rises as Chip Stocks Rebound and Investors Revisit Recent Data-Center Strength
- Neutral Sentiment: SoftBank disclosed that it raised about $7.4 billion against its Intel shares through prepaid forward contracts. The financing highlights the scale of SoftBank’s position, but the reports also flag potential share-supply risk tied to the arrangement. Intel Stocks Climb as SoftBank Reveals Cash Raised Against Intel Shares
- Negative Sentiment: Intel’s near-term outlook remains a counterweight: its latest guidance and expectations for continued PC weakness have raised concerns about the coming quarters, despite data-center strength. SoftBank’s reported losses on its Intel stake and related hedges add to worries about volatility and possible selling pressure. Intel Stock Faces 87 Million-Share Risk After SoftBank Deal
About Intel
Intel Corporation is a semiconductor company that designs and manufactures processors and related technologies. Its products include central processing units for personal computers and servers, graphics and AI accelerators, and platforms and components for data center, networking, and edge computing applications. The company also operates Intel Foundry, which provides semiconductor manufacturing, packaging, and related services for Intel and external customers. Intel serves customers and businesses around the world through its products, technologies, and manufacturing operations.
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