Alpha Family Trust Purchases Shares of 27,680 Intel Corporation $INTC

Key Points

• Alpha Family Trust has acquired 27,680 shares of Intel Corporation, worth approximately $629,000, during the first quarter of 2023.
• Intel's recent quarterly earnings showed a loss of ($0.10) per share, missing expectations, although revenue was up 0.5% from last year.
• As of now, 64.53% of Intel's stock is owned by hedge funds and institutional investors, indicating strong institutional interest.

Alpha Family Trust purchased a new stake in Intel Corporation (NASDAQ:INTC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,680 shares of the chip maker's stock, valued at approximately $629,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Cornerstone Advisory LLC grew its position in shares of Intel by 4.3% during the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after acquiring an additional 409 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of Intel by 1.1% during the first quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock worth $1,037,000 after acquiring an additional 486 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Intel by 23.1% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock worth $59,000 after acquiring an additional 491 shares during the last quarter. one8zero8 LLC grew its position in shares of Intel by 4.2% during the first quarter. one8zero8 LLC now owns 12,320 shares of the chip maker's stock worth $280,000 after acquiring an additional 500 shares during the last quarter. Finally, Capital International Sarl grew its position in shares of Intel by 4.1% during the fourth quarter. Capital International Sarl now owns 12,971 shares of the chip maker's stock worth $260,000 after acquiring an additional 510 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTC. Needham & Company LLC restated a "hold" rating on shares of Intel in a research report on Friday, July 25th. Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a research report on Wednesday, April 30th. UBS Group raised their target price on shares of Intel from $21.00 to $25.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Sanford C. Bernstein decreased their price target on Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Finally, Benchmark reaffirmed a "hold" rating on shares of Intel in a report on Friday, July 25th. Six research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Intel currently has an average rating of "Hold" and an average price target of $22.17.

Intel Trading Up 2.9%

NASDAQ:INTC opened at $24.56 on Monday. The company has a market capitalization of $107.50 billion, a PE ratio of -5.15 and a beta of 1.22. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $27.55. The stock has a fifty day simple moving average of $21.81 and a 200-day simple moving average of $21.57.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company's quarterly revenue was up .5% compared to the same quarter last year. During the same period last year, the firm earned $0.02 EPS. On average, equities research analysts expect that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Intel Company Profile

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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