Intel Corporation $INTC Shares Purchased by Royal Fund Management LLC

Key Points

• Royal Fund Management increased its Intel stake by 63.3% in the third quarter, bringing its holdings to 53,624 shares valued at approximately $6.45 million. Institutional investors collectively own 64.53% of Intel.
• Intel received an FCC waiver permitting foreign-made robotic equipment, while construction progress at its Ohio chip project supported its domestic foundry strategy. CEO Lip-Bu Tan also purchased nearly $10 million of Intel stock.
• Intel shares opened at $85.48, well below their 50-day and 200-day moving averages. Analyst sentiment remains mixed, with an average rating of “Hold” and a consensus price target of $107.73.

Royal Fund Management LLC increased its position in Intel Corporation (NASDAQ:INTC - Free Report) by 63.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,624 shares of the chip maker's stock after purchasing an additional 20,778 shares during the period. Royal Fund Management LLC's holdings in Intel were worth $6,447,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INTC. Cogent Strategic Wealth LLC raised its holdings in Intel by 75.4% in the 3rd quarter. Cogent Strategic Wealth LLC now owns 6,448 shares of the chip maker's stock worth $775,000 after acquiring an additional 2,772 shares during the last quarter. Indiana Trust & Investment Management Co lifted its position in Intel by 23.0% in the 3rd quarter. Indiana Trust & Investment Management Co now owns 54,892 shares of the chip maker's stock valued at $6,600,000 after acquiring an additional 10,270 shares in the last quarter. Northern Lights Advisors Inc. purchased a new stake in Intel during the 3rd quarter valued at $301,000. NBT Bank N.A. purchased a new stake in Intel during the 3rd quarter valued at $5,269,000. Finally, Root Financial Partners LLC boosted its stake in Intel by 18.3% during the 3rd quarter. Root Financial Partners LLC now owns 9,331 shares of the chip maker's stock valued at $1,122,000 after purchasing an additional 1,443 shares during the last quarter. Institutional investors own 64.53% of the company's stock.

Intel News Roundup

Here are the key news stories impacting Intel this week:

• Positive Sentiment: The FCC granted Intel a waiver allowing the company to use foreign-made robotic devices, potentially easing equipment and supply-chain constraints for its manufacturing operations. FCC grants Intel waiver for foreign-made robotic devices
• Positive Sentiment: Construction progress at Intel’s long-delayed $28 billion Ohio chip project provided evidence that the company is advancing its domestic foundry strategy, while an Arizona fab remains targeted for a 2028 start. Intel Ohio chip project construction milestone
• Positive Sentiment: Analysts expect Intel’s upcoming earnings report to show continued growth, and Nvidia’s investment in Intel was highlighted as a potential vote of confidence in the company’s strategic importance. Intel earnings expectations

Analyst Upgrades and Downgrades

INTC has been the subject of a number of research analyst reports. Barclays raised Intel from a "hold" rating to an "overweight" rating in a report on Wednesday, September 16th. Zacks Research downgraded Intel from a "strong-buy" rating to a "hold" rating in a report on Friday, July 31st. Royal Bank Of Canada initiated coverage on Intel in a report on Tuesday, September 8th. They set an "outperform" rating on the stock. HC Wainwright set a $150.00 price objective on Intel in a research report on Monday, June 29th. Finally, Bank of America reduced their price objective on Intel from $160.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twenty-seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Intel presently has an average rating of "Hold" and an average target price of $107.73.

Insider Transactions at Intel

In other Intel news, CEO Lip Bu Tan bought 105,263 shares of the business's stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average cost of $95.00 per share, for a total transaction of $9,999,985.00. Following the completion of the transaction, the chief executive officer owned 1,314,669 shares of the company's stock, valued at $124,893,555. This represents a 8.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.05% of the company's stock.

Intel Trading Down 8.0%

Intel stock opened at $85.48 on Friday. The business has a 50-day simple moving average of $102.28 and a two-hundred day simple moving average of $102.93. The company has a market cap of $431.16 billion, a P/E ratio of -40.51, a P/E/G ratio of 9.87 and a beta of 2.22. Intel Corporation has a 52-week low of $32.89 and a 52-week high of $142.35. The company has a quick ratio of 1.25, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The chip maker reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.21. Intel had a negative net margin of 19.79% and a positive return on equity of 2.62%. The firm had revenue of $16.13 billion for the quarter, compared to analysts' expectations of $14.43 billion. During the same quarter in the prior year, the business earned ($0.10) EPS. The business's quarterly revenue was up 25.2% on a year-over-year basis. Analysts predict that Intel Corporation will post 1.05 EPS for the current year.

Intel Company Profile

Intel Corporation NASDAQ: INTC is a global semiconductor company that designs and manufactures computing and connectivity products. Its portfolio includes Intel Core processors for personal computers, Xeon processors for data centers and enterprise systems, and products for networking, edge computing, graphics, and artificial intelligence workloads.

Through Intel Foundry, the company also provides semiconductor manufacturing and technology-development services for external customers. Intel develops process technologies, advanced packaging, and other manufacturing capabilities intended to support its own products and third-party chip designs.

Founded in 1968 by Robert Noyce and Gordon Moore, Intel helped establish the modern microprocessor industry and has historically supplied processors for PCs, servers, and other computing systems.

Want to see what other hedge funds are holding INTC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Intel Corporation (NASDAQ:INTC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.