ABC Arbitrage SA Invests $1.44 Million in Intel Corporation (NASDAQ:INTC)

Key Points

• ABC Arbitrage SA has acquired a new stake in Intel Corporation, purchasing 63,341 shares valued at approximately $1.44 million in the first quarter.
• Multiple institutional investors have increased their holdings in Intel, with UBS AM raising their stake by 8.2% and Northern Trust Corp boosting theirs by 15.5% in the last quarter.
• Intel reported a quarterly revenue of $12.86 billion, exceeding analyst expectations, but noted a loss of ($0.10) earnings per share, missing forecasts by ($0.11).

ABC Arbitrage SA bought a new stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 63,341 shares of the chip maker's stock, valued at approximately $1,438,000.

Other hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intel by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock valued at $1,268,430,000 after acquiring an additional 4,793,927 shares during the period. Northern Trust Corp boosted its stake in shares of Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Intel by 9.4% in the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock worth $863,931,000 after purchasing an additional 3,696,377 shares during the last quarter. Deutsche Bank AG lifted its holdings in Intel by 14.1% during the 4th quarter. Deutsche Bank AG now owns 24,030,097 shares of the chip maker's stock valued at $481,803,000 after purchasing an additional 2,965,308 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in Intel by 2.7% during the 4th quarter. Nuveen Asset Management LLC now owns 22,197,729 shares of the chip maker's stock valued at $445,064,000 after purchasing an additional 576,788 shares during the last quarter. Institutional investors own 64.53% of the company's stock.

Intel Stock Performance

INTC opened at $19.50 on Tuesday. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $27.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24. The business's 50-day simple moving average is $21.57 and its 200 day simple moving average is $21.52. The firm has a market capitalization of $85.35 billion, a PE ratio of -4.09 and a beta of 1.22.

Intel (NASDAQ:INTC - Get Free Report) last posted its earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). The firm had revenue of $12.86 billion for the quarter, compared to analyst estimates of $11.88 billion. Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The firm's quarterly revenue was up .5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.02 EPS. As a group, sell-side analysts expect that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on INTC. Loop Capital began coverage on shares of Intel in a research report on Monday, July 21st. They set a "hold" rating and a $25.00 price target on the stock. Needham & Company LLC reiterated a "hold" rating on shares of Intel in a report on Friday, July 25th. UBS Group boosted their price objective on Intel from $21.00 to $25.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Benchmark restated a "hold" rating on shares of Intel in a research report on Friday, July 25th. Finally, Rosenblatt Securities restated a "sell" rating and issued a $14.00 price target on shares of Intel in a research report on Friday, July 25th. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Intel presently has an average rating of "Hold" and a consensus price target of $22.17.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.

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