Arizona State Retirement System Has $28.74 Million Position in Intel Corporation (NASDAQ:INTC)

Arizona State Retirement System increased its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 2.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,265,322 shares of the chip maker's stock after acquiring an additional 30,960 shares during the quarter. Arizona State Retirement System's holdings in Intel were worth $28,735,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. LFA Lugano Financial Advisors SA acquired a new position in shares of Intel during the 1st quarter worth approximately $30,000. Vermillion Wealth Management Inc. acquired a new position in shares of Intel during the 4th quarter worth approximately $27,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Intel during the 1st quarter worth approximately $32,000. Olde Wealth Management LLC acquired a new position in Intel in the 1st quarter valued at $31,000. Finally, EQ Wealth Advisors LLC acquired a new position in Intel in the 1st quarter valued at $33,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on INTC. Morgan Stanley decreased their price objective on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Benchmark reaffirmed a "hold" rating on shares of Intel in a report on Friday, April 25th. Sanford C. Bernstein decreased their price objective on Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Mizuho upped their price objective on Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Finally, Cfra Research raised Intel to a "hold" rating in a report on Friday, April 25th. Five investment analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $21.76.

Intel Price Performance

Shares of INTC opened at $23.43 on Friday. Intel Corporation has a 1 year low of $17.67 and a 1 year high of $37.16. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93. The company has a market capitalization of $102.20 billion, a price-to-earnings ratio of -5.23 and a beta of 1.15. The business has a 50-day moving average of $21.33 and a 200-day moving average of $21.31.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The company had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. During the same period last year, the company earned $0.18 earnings per share. The firm's revenue was down .4% compared to the same quarter last year. As a group, equities research analysts anticipate that Intel Corporation will post -0.11 earnings per share for the current year.

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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