Intel Corporation (NASDAQ:INTC) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. has increased its stake in Intel Corporation by 14.5%, now owning approximately 8.14 million shares valued at about $184.85 million.
• Intel's stock recently opened at $19.77 and has experienced a 3.1% decline as of the most recent trading session.
• Despite missing earnings expectations with a reported loss of ($0.10) per share, Intel's revenue for the last quarter was $12.86 billion, surpassing analyst predictions.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 14.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,139,371 shares of the chip maker's stock after buying an additional 1,030,338 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of Intel worth $184,845,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Advisory LLC boosted its holdings in shares of Intel by 4.3% in the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock valued at $198,000 after buying an additional 409 shares in the last quarter. Evergreen Capital Management LLC increased its position in shares of Intel by 1.0% during the fourth quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after purchasing an additional 419 shares in the last quarter. Federated Hermes Inc. lifted its holdings in shares of Intel by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock valued at $3,263,000 after purchasing an additional 456 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of Intel by 1.1% in the 1st quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock valued at $1,037,000 after purchasing an additional 486 shares during the period. Finally, Cary Street Partners Investment Advisory LLC grew its stake in Intel by 23.1% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock worth $59,000 after buying an additional 491 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on INTC shares. Mizuho boosted their price objective on Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. 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 research report on Friday, July 25th. UBS Group lifted their price objective on shares of Intel from $21.00 to $25.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Cantor Fitzgerald reduced their target price on shares of Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Finally, Loop Capital started coverage on Intel in a research report on Monday, July 21st. They issued a "hold" rating and a $25.00 price target on the stock. Six analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $22.17.

Intel Stock Down 3.1%

INTC stock opened at $19.77 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. The company's 50 day simple moving average is $21.56 and its 200-day simple moving average is $21.51. Intel Corporation has a 12 month low of $17.67 and a 12 month high of $27.55. The firm has a market capitalization of $86.53 billion, a PE ratio of -4.14 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) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.11). Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The company 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 business posted $0.02 EPS. The business's quarterly revenue was up .5% on a year-over-year basis. Equities analysts expect 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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