Forsta AP Fonden Grows Stock Holdings in Intel Corporation (NASDAQ:INTC)

Key Points

• Forsta AP Fonden increased its stake in Intel Corporation by 2.9% in the 1st quarter, acquiring an additional 26,600 shares, bringing its total holdings to 946,546 shares valued at approximately $21.5 million.
• Intel reported a quarterly earnings loss of ($0.10) per share, missing expectations of $0.01, despite revenue of $12.86 billion, which surpassed estimates.
• Currently, the stock carries a consensus rating of "Hold" from analysts, with a price target averaging around $22.17, as multiple investment firms have adjusted their price objectives downward.

Forsta AP Fonden raised its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 946,546 shares of the chip maker's stock after purchasing an additional 26,600 shares during the quarter. Forsta AP Fonden's holdings in Intel were worth $21,496,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Two Sigma Advisers LP bought a new position in shares of Intel during the 4th quarter valued at $289,752,000. Two Sigma Investments LP bought a new stake in shares of Intel during the 4th quarter valued at about $237,457,000. Goldman Sachs Group Inc. grew its stake in shares of Intel by 133.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 18,758,658 shares of the chip maker's stock valued at $426,009,000 after purchasing an additional 10,719,274 shares during the period. Vanguard Group Inc. increased its position in shares of Intel by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 377,390,437 shares of the chip maker's stock valued at $8,570,537,000 after purchasing an additional 8,291,233 shares during the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of Intel by 286.8% in the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock worth $211,114,000 after purchasing an additional 7,806,882 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on INTC shares. Wall Street Zen cut shares of Intel from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Stifel Nicolaus raised their target price on Intel from $21.00 to $24.50 and gave the stock a "hold" rating in a report on Monday, July 21st. Citigroup reiterated a "hold" rating on shares of Intel in a research report on Tuesday, July 8th. Mizuho lifted their price objective on Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a research report on Thursday, July 3rd. Finally, Needham & Company LLC reissued 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, the stock has an average rating of "Hold" and a consensus price target of $22.17.

Intel Stock Up 0.9%

Intel stock traded up $0.18 during trading hours on Friday, reaching $19.95. The stock had a trading volume of 75,147,129 shares, compared to its average volume of 84,513,864. The company has a market cap of $87.32 billion, a price-to-earnings ratio of -4.18 and a beta of 1.22. The business's 50 day moving average price is $21.56 and its 200-day moving average price is $21.48. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $27.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92.

Intel (NASDAQ:INTC - Get Free Report) last posted its earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The firm had revenue of $12.86 billion for the quarter, compared to analysts' expectations of $11.88 billion. During the same period in the previous year, the company earned $0.02 EPS. The company's revenue was up .5% on a year-over-year basis. Sell-side analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

Intel 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.