National Pension Service Grows Holdings in Intel Corporation (NASDAQ:INTC)

Key Points

• National Pension Service increased its stake in Intel Corporation by 9.6%, acquiring an additional 856,503 shares, which brought its total holdings to approximately 9.76 million shares valued at around $221.73 million.
• Intel reported a quarterly earnings loss of ($0.10) per share, missing analysts' estimates of $0.01, despite revenue of $12.86 billion surpassing expectations.
• Wall Street analysts have given Intel a consensus rating of "Hold", with an average price target set at $22.17, indicating mixed sentiments about the stock's future performance.

National Pension Service increased its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,763,512 shares of the chip maker's stock after purchasing an additional 856,503 shares during the quarter. National Pension Service owned approximately 0.22% of Intel worth $221,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Intel in the first quarter worth about $538,430,000. Two Sigma Advisers LP purchased a new position in Intel in the fourth quarter valued at about $289,752,000. Two Sigma Investments LP purchased a new position in Intel in the fourth quarter valued at about $237,457,000. Goldman Sachs Group Inc. boosted its stake in Intel by 133.3% in the first quarter. Goldman Sachs Group Inc. now owns 18,758,658 shares of the chip maker's stock valued at $426,009,000 after acquiring an additional 10,719,274 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in Intel by 2.2% in the first quarter. Vanguard Group Inc. now owns 377,390,437 shares of the chip maker's stock valued at $8,570,537,000 after acquiring an additional 8,291,233 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Price Performance

Intel stock traded up $1.64 during midday trading on Thursday, reaching $23.86. 183,478,493 shares of the stock were exchanged, compared to its average volume of 94,868,859. The company's fifty day moving average is $21.72 and its 200-day moving average is $21.51. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24. The firm has a market cap of $104.44 billion, a PE ratio of -5.00 and a beta of 1.22. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $27.55.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INTC shares. Stifel Nicolaus boosted their target price on shares of Intel from $21.00 to $24.50 and gave the company a "hold" rating in a research note on Monday, July 21st. Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a research note on Wednesday, April 30th. Needham & Company LLC reiterated a "hold" rating on shares of Intel in a research note on Friday, July 25th. JPMorgan Chase & Co. boosted their target price on shares of Intel from $20.00 to $21.00 and gave the company an "underweight" rating in a research note on Friday, July 25th. Finally, Citigroup reiterated a "hold" rating on shares of Intel in a research note on Tuesday, July 8th. Six investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $22.17.

About Intel

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.