Ethic Inc. Raises Position in Intel Corporation $INTC

Key Points

• Ethic Inc. increased its stake in Intel Corporation by 4.9%, owning 371,478 shares valued at $8.4 million after acquiring an additional 17,424 shares in the second quarter.
• Intel reported a loss of $0.10 per share in its latest earnings, missing the consensus estimate, despite a revenue increase to $12.86 billion for the quarter.
• Currently, a significant 64.53% of Intel's stock is owned by hedge funds and institutional investors, reflecting strong interest in the company from major financial players.

Ethic Inc. raised its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 371,478 shares of the chip maker's stock after purchasing an additional 17,424 shares during the period. Ethic Inc.'s holdings in Intel were worth $8,429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Nuveen LLC purchased a new stake in shares of Intel in the first quarter worth approximately $538,430,000. Kingstone Capital Partners Texas LLC purchased a new stake in shares of Intel in the second quarter worth approximately $345,245,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Intel by 99.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 29,829,385 shares of the chip maker's stock worth $677,426,000 after buying an additional 14,901,457 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Intel by 133.3% in the first quarter. Goldman Sachs Group Inc. now owns 18,758,658 shares of the chip maker's stock worth $426,009,000 after buying an additional 10,719,274 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Intel by 86.4% in the second quarter. Assenagon Asset Management S.A. now owns 22,705,050 shares of the chip maker's stock worth $508,593,000 after buying an additional 10,523,590 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Down 3.1%

Shares of NASDAQ:INTC opened at $36.92 on Thursday. Intel Corporation has a 52-week low of $17.67 and a 52-week high of $39.65. The stock has a market cap of $161.60 billion, a P/E ratio of -7.74 and a beta of 1.33. The business's 50 day moving average is $29.81 and its 200 day moving average is $24.06. 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 (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate 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 revenue for the quarter was up .5% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. Sell-side analysts predict that Intel Corporation will post -0.11 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on INTC. HSBC reiterated a "reduce" rating and issued a $24.00 price target (up from $21.25) on shares of Intel in a report on Tuesday, October 7th. Mizuho increased their price target on Intel from $23.00 to $39.00 and gave the stock a "neutral" rating in a report on Monday, October 13th. Morgan Stanley increased their price target on Intel from $23.00 to $36.00 and gave the stock an "equal weight" rating in a report on Monday. Erste Group Bank raised Intel from a "sell" rating to a "hold" rating in a research note on Monday, September 22nd. Finally, Rosenblatt Securities reissued a "sell" rating and issued a $14.00 price objective on shares of Intel in a research note on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating, twenty-three have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus target price of $29.26.

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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