Bernicke Wealth Management Ltd. Makes New Investment in Intel Corporation $INTC

Key Points

• Bernicke Wealth Management opened a new Intel position in the third quarter, buying 10,574 shares worth about $1.27 million. Institutional investors and hedge funds collectively own 64.53% of Intel’s stock.
• CEO Lip-Bu Tan purchased 150,000 Intel shares for about $9.71 million, increasing his direct ownership by 11.41%.
• Intel beat quarterly EPS expectations ($0.52 versus $0.41), while revenue of $16.51 billion came in slightly below estimates. Analysts’ consensus rating is Hold, with an average price target of $96.93.

Bernicke Wealth Management Ltd. purchased a new stake in Intel Corporation (NASDAQ:INTC - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 10,574 shares of the chip maker's stock, valued at approximately $1,271,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Primecap Management Co. CA acquired a new position in Intel in the second quarter valued at about $10,507,291,000. Legal & General Group Plc acquired a new stake in shares of Intel during the second quarter valued at about $4,096,110,000. Assenagon Asset Management S.A. increased its position in shares of Intel by 87.1% during the third quarter. Assenagon Asset Management S.A. now owns 30,214,769 shares of the chip maker's stock valued at $3,632,722,000 after acquiring an additional 14,063,302 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of Intel during the second quarter valued at about $1,848,438,000. Finally, Bank of America Corp DE raised its stake in shares of 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. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Intel

In other news, CEO Lip Tan bought 150,000 shares of Intel 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 completion of the acquisition, the chief executive officer directly owned 1,464,669 shares in the company, valued at $94,808,024.37. The trade was a 11.41% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.05% of the company's stock.

Intel News Summary

Here's some of the latest news about INTC:

• Positive Sentiment: Intel drew about $79 million in net ETF buying on Nov. 11, with 54 ETFs adding shares and 11 selling—a source of buying interest amid recent volatility. Article: Intel sees ETF buying
• Negative Sentiment: Intel fell alongside other chipmakers as technology stocks weakened, with investors assessing inflation data and uncertainty across the semiconductor sector. Article: Chip stocks slide
• Negative Sentiment: Some analysts and commentators remain cautious: one article argues AMD has stronger prospects and a more attractive valuation, while another recommends waiting for Intel’s fourth-quarter results. These concerns add to scrutiny of Intel’s valuation and turnaround execution. Article: AMD or Intel Article: Waiting for Intel’s Q4 numbers

Intel Price Performance

INTC stock opened at $59.66 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.31 and a quick ratio of 1.95. The firm has a market capitalization of $317.09 billion, a P/E ratio of -24.76, a P/E/G ratio of 6.55 and a beta of 2.42. The business's 50-day moving average is $94.97 and its two-hundred day moving average is $86.90. Intel Corporation has a 1 year low of $32.89 and a 1 year high of $142.35.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $16.51 billion during the quarter, compared to analysts' expectations of $16.56 billion. During the same quarter last year, the business posted $0.23 EPS. The business's quarterly revenue was up 20.9% compared to the same quarter last year. Analysts anticipate that Intel Corporation will post 1.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INTC has been the topic of several recent analyst reports. Stifel Nicolaus set a $90.00 price objective on shares of Intel in a report on Friday, October 30th. Wall Street Zen downgraded shares of Intel from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Bank of America cut their target price on Intel from $100.00 to $80.00 and set a "neutral" rating on the stock in a research report on Thursday. Evercore reiterated an "outperform" rating and set a $133.00 target price on shares of Intel in a report on Friday, October 30th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a $100.00 price target on shares of Intel in a research report on Sunday, October 25th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twenty-eight have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $96.93.

Intel 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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