Allworth Financial LP Buys 32,584 Shares of Intel Corporation $INTC

Key Points

• Allworth Financial increased its Intel stake by 8.8%, buying 32,584 shares in the third quarter to hold 404,407 shares valued at about $48.6 million.
• Intel CEO Lip-Bu Tan bought 150,000 shares for approximately $9.7 million. Institutional investors and hedge funds collectively own 64.53% of Intel’s stock.
• Intel beat quarterly EPS expectations, reporting $0.52 versus the $0.41 consensus, while revenue slightly missed forecasts. Analysts’ consensus rating is Hold, with an average target price of $96.93.

Allworth Financial LP boosted its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 8.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404,407 shares of the chip maker's stock after buying an additional 32,584 shares during the quarter. Allworth Financial LP's holdings in Intel were worth $48,622,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Primecap Management Co. CA acquired a new position in shares of Intel in the 2nd quarter worth approximately $10,507,291,000. Legal & General Group Plc purchased a new position in shares of Intel during the 2nd quarter worth approximately $4,096,110,000. Assenagon Asset Management S.A. boosted its position in shares of Intel by 87.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 30,214,769 shares of the chip maker's stock worth $3,632,722,000 after purchasing an additional 14,063,302 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Intel in the 2nd quarter valued at approximately $1,848,438,000. Finally, Bank of America Corp DE increased its holdings 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 purchasing an additional 8,342,514 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intel

In other Intel news, CEO Lip Tan acquired 150,000 shares of the company's stock in a transaction dated Monday, November 2nd. The shares were acquired at an average price of $64.73 per share, for a total transaction of $9,709,500.00. Following the acquisition, the chief executive officer owned 1,464,669 shares in the company, valued at $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. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INTC. Mizuho increased their target price on Intel from $92.00 to $114.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. dropped their target price on Intel from $85.00 to $80.00 and set a "neutral" rating for the company in a research report on Friday, October 30th. Wells Fargo & Company dropped their target price on Intel from $120.00 to $80.00 and set an "equal weight" rating for the company in a research report on Friday, October 30th. Barclays upgraded shares of Intel from a "hold" rating to an "overweight" rating in a research note on Wednesday, September 16th. Finally, UBS Group cut shares of Intel from a "buy" rating to a "hold" rating and set a $90.00 price target on the stock. in a research report on Friday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twenty-eight have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Intel presently has a consensus rating of "Hold" and a consensus target price of $96.93.

Intel Stock Down 2.1%

INTC stock opened at $61.20 on Friday. The company's 50 day moving average price is $95.61 and its 200 day moving average price is $86.83. The firm has a market capitalization of $325.28 billion, a price-to-earnings ratio of -25.39, a PEG ratio of 6.68 and a beta of 2.42. Intel Corporation has a fifty-two week low of $32.89 and a fifty-two week high of $142.35. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.95 and a current ratio of 2.31.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.11. The business had revenue of $16.51 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 20.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. On average, equities research analysts anticipate that Intel Corporation will post 1.04 EPS for the current fiscal year.

Key Stories Impacting Intel

Investors following INTC have been watching these stories:

• Positive Sentiment: CEO Lip-Bu Tan bought about $9.7 million of Intel shares, a show of confidence in the company after its steep recent decline. Insider purchases can bolster sentiment, though they do not guarantee a turnaround. Intel CEO stock purchase
• Negative Sentiment: Reports of Nvidia CEO Jensen Huang’s departure have unsettled investors over the companies’ partnership and future chip roadmap. Nvidia holds 214.78 million Intel shares, valued at roughly $13 billion, adding uncertainty about future collaboration and the stake’s implications. Nvidia leadership uncertainty and Intel
• Negative Sentiment: Bank of America lowered its Intel price target from $100 to $80 and kept a neutral rating, signaling reduced expectations. Bank of America price-target change

Intel Company Profile

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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