iA Global Asset Management Inc. Has $17.50 Million Stock Holdings in Intel Corporation (NASDAQ:INTC)

Key Points

• iA Global Asset Management Inc. increased its holdings in Intel Corporation by 65.8%, now owning 770,568 shares worth approximately $17.5 million.
• Analysts' ratings for Intel are largely cautious, with six analysts recommending a sell, twenty-four a hold, and only one a buy, while the consensus target price is $22.17.
• Despite a revenue increase of 0.5% year-over-year, Intel reported a loss of $0.10 EPS for the last quarter, missing estimates by $0.11.

iA Global Asset Management Inc. increased its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 65.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 770,568 shares of the chip maker's stock after purchasing an additional 305,691 shares during the quarter. iA Global Asset Management Inc.'s holdings in Intel were worth $17,500,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new stake in shares of Intel during the 1st quarter worth about $25,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Intel during the 1st quarter worth about $27,000. LFA Lugano Financial Advisors SA acquired a new stake in shares of Intel during the 1st quarter worth about $30,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Intel during the 4th quarter worth about $27,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in shares of Intel during the 1st quarter worth about $32,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INTC shares. Seaport Res Ptn raised shares of Intel to a "strong sell" rating in a research note on Wednesday, April 30th. Wall Street Zen cut shares of Intel from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. upped their price target on shares of Intel from $20.00 to $21.00 and gave the company an "underweight" rating in a report on Friday, July 25th. Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, July 25th. Finally, Cfra Research raised shares of Intel to a "hold" rating in a research report on Friday, April 25th. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $22.17.

Intel Price Performance

INTC opened at $19.50 on Tuesday. Intel Corporation has a 12-month low of $17.67 and a 12-month high of $27.55. The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42. The business's fifty day simple moving average is $21.57 and its 200-day simple moving average is $21.52. The company has a market capitalization of $85.35 billion, a price-to-earnings ratio of -4.09 and a beta of 1.22.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly 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). The business had revenue of $12.86 billion during the quarter, compared to analysts' expectations of $11.88 billion. Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The company's quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 earnings per share. On average, equities research analysts anticipate that Intel Corporation will post -0.11 earnings per share for the current fiscal 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.

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