Intel Corporation $INTC Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments increased its Intel stake by 6.9% in the third quarter, adding 199,700 shares to reach about 3.08 million shares valued at $368.4 million.
• Intel reported quarterly EPS of $0.52, beating the $0.41 consensus, while revenue of $16.51 billion slightly missed estimates; revenue rose 20.9% year over year.
• Analyst views remain mixed: MarketBeat’s consensus rating is “Hold” with a $96.93 average price target. CEO Lip-Bu Tan also bought 150,000 shares for about $9.7 million.

Russell Investments Group Ltd. lifted its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,084,189 shares of the chip maker's stock after purchasing an additional 199,700 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Intel worth $368,441,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Intel by 1.2% in the second quarter. State Street Corp now owns 216,849,675 shares of the chip maker's stock worth $30,278,720,000 after purchasing an additional 2,528,657 shares during the last quarter. Primecap Management Co. CA bought a new stake in shares of Intel during the 2nd quarter valued at about $10,507,291,000. Bank of America Corp DE increased its position in shares of Intel by 35.7% during the second 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 buying an additional 8,342,514 shares during the period. Legal & General Group Plc purchased a new position in shares of Intel during the second quarter valued at about $4,096,110,000. Finally, 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 buying an additional 14,063,302 shares during the period. Hedge funds and other institutional investors own 64.53% of the company's stock.

Analysts Set New Price Targets

INTC has been the topic of several recent research reports. Barclays raised Intel from a "hold" rating to an "overweight" rating in a research note on Wednesday, September 16th. KGI Securities raised shares of Intel from a "neutral" rating to an "outperform" rating and set a $95.00 target price on the stock in a research report on Friday, October 30th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $100.00 price target on shares of Intel in a research note on Friday, October 30th. Piper Sandler started coverage on shares of Intel in a research report on Wednesday, September 9th. They set a "neutral" rating and a $110.00 price target for the company. Finally, Bank of America dropped their price objective on shares of Intel from $100.00 to $80.00 and set a "neutral" rating on the stock in a research note on Thursday. 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 assigned a Sell rating to the company's stock. According to data from MarketBeat, Intel has a consensus rating of "Hold" and an average price target of $96.93.

Insider Transactions at Intel

In related news, CEO Lip Tan bought 150,000 shares of the business's stock in a transaction on Monday, November 2nd. The stock was acquired at an average price of $64.73 per share, with a total value of $9,709,500.00. Following the transaction, the chief executive officer owned 1,464,669 shares in the company, valued at approximately $94,808,024.37. This trade represents a 11.41% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.05% of the company's stock.

Intel Price Performance

Shares of NASDAQ:INTC opened at $61.20 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.95 and a current ratio of 2.31. The firm has a market cap of $325.28 billion, a price-to-earnings ratio of -25.39, a price-to-earnings-growth ratio of 6.68 and a beta of 2.42. The business has a 50-day simple moving average of $95.61 and a two-hundred day simple moving average of $86.83. Intel Corporation has a fifty-two week low of $32.89 and a fifty-two week high of $142.35.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.11. Intel had a negative net margin of 20.09% and a positive return on equity of 4.70%. The firm had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.56 billion. During the same quarter last year, the firm posted $0.23 EPS. The business's quarterly revenue was up 20.9% compared to the same quarter last year. On average, analysts expect that Intel Corporation will post 1.04 earnings per share for the current year.

Top Intel Stories

Investors following INTC have been watching these stories:

• Positive Sentiment: CEO Lip-Bu Tan bought about $9.7 million of Intel shares, a show of confidence in the company after its steep recent decline. Insider purchases can bolster sentiment, though they do not guarantee a turnaround. Intel CEO stock purchase
• Negative Sentiment: Bank of America lowered its Intel price target from $100 to $80 and kept a neutral rating, signaling reduced expectations. Bank of America price-target change
• Negative Sentiment: A law firm announced an investor-claims investigation, adding a legal-risk headline. Separately, coverage points to PC weakness, cash burn and falling estimates as ongoing challenges despite strong server demand. Investor investigation announcement Intel’s operating challenges

About Intel

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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