Intel Corporation (NASDAQ:INTC) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Intel by 2.8%, acquiring an additional 85,697 shares during the 1st quarter, now owning approximately 3.1 million shares valued at $71.67 million.
• Multiple analysts have recently downgraded Intel's stock, with Wells Fargo reducing the target price from $25 to $22, and Cantor Fitzgerald lowering it from $29 to $20, reflecting a general sentiment of caution in the market.
• Intel's latest earnings report showed a loss of $0.10 per share, missing estimates, despite a revenue increase to $12.86 billion, indicating ongoing challenges for the company amid a negative net margin.

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,155,676 shares of the chip maker's stock after acquiring an additional 85,697 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Intel worth $71,665,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Empirical Finance LLC increased its position in Intel by 1.8% during the 1st quarter. Empirical Finance LLC now owns 145,557 shares of the chip maker's stock valued at $3,306,000 after buying an additional 2,504 shares in the last quarter. TD Asset Management Inc grew its stake in Intel by 25.6% during the 1st quarter. TD Asset Management Inc now owns 2,712,503 shares of the chip maker's stock valued at $61,601,000 after purchasing an additional 552,189 shares during the last quarter. HB Wealth Management LLC grew its stake in Intel by 41.5% during the 1st quarter. HB Wealth Management LLC now owns 202,464 shares of the chip maker's stock valued at $4,598,000 after purchasing an additional 59,414 shares during the last quarter. Mediolanum International Funds Ltd grew its stake in Intel by 122.9% during the 1st quarter. Mediolanum International Funds Ltd now owns 184,016 shares of the chip maker's stock valued at $4,179,000 after purchasing an additional 101,472 shares during the last quarter. Finally, Angeles Wealth Management LLC grew its stake in Intel by 38.9% during the 1st quarter. Angeles Wealth Management LLC now owns 17,387 shares of the chip maker's stock valued at $395,000 after purchasing an additional 4,867 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Intel Trading Down 0.7%

NASDAQ:INTC traded down $0.15 on Wednesday, reaching $20.27. The company's stock had a trading volume of 31,588,046 shares, compared to its average volume of 93,543,516. The firm has a market cap of $88.70 billion, a price-to-earnings ratio of -4.24 and a beta of 1.15. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. Intel Corporation has a 12-month low of $17.67 and a 12-month high of $30.87. The stock has a 50 day moving average price of $21.61 and a 200 day moving average price of $21.52.

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Susquehanna dropped their price target on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Stifel Nicolaus upped their target price on Intel from $21.00 to $24.50 and gave the stock a "hold" rating in a research note on Monday, July 21st. Wells Fargo & Company lowered their target price on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Citigroup restated a "hold" rating on shares of Intel in a research note on Tuesday, July 8th. Finally, Morgan Stanley lowered their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Six research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $22.30.

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.