Vanguard Group Inc. Acquires 8,291,233 Shares of Intel Corporation (NASDAQ:INTC)

Key Points

• Vanguard Group Inc. increased its ownership in Intel Corporation by 2.2%, now holding approximately 377.4 million shares valued at around $8.57 billion as of the latest SEC filing.
• Intel reported a loss of $0.10 per share for the last quarter, missing expectations, despite a revenue increase of 0.5% year-over-year to $12.86 billion.
• Analyst ratings for Intel are mostly negative, with a consensus rating of "Hold" and multiple analysts setting price targets below the current share price.

Vanguard Group Inc. grew its position in Intel Corporation (NASDAQ:INTC - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 377,390,437 shares of the chip maker's stock after purchasing an additional 8,291,233 shares during the period. Vanguard Group Inc. owned about 8.65% of Intel worth $8,570,537,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intel by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock worth $1,268,430,000 after buying an additional 4,793,927 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock worth $918,522,000 after purchasing an additional 6,157,853 shares during the period. Deutsche Bank AG raised its holdings in shares of Intel by 14.1% in the 4th quarter. Deutsche Bank AG now owns 24,030,097 shares of the chip maker's stock worth $481,803,000 after purchasing an additional 2,965,308 shares during the period. Nuveen Asset Management LLC lifted its stake in Intel by 2.7% in the fourth quarter. Nuveen Asset Management LLC now owns 22,197,729 shares of the chip maker's stock valued at $445,064,000 after purchasing an additional 576,788 shares during the last quarter. Finally, Two Sigma Advisers LP bought a new position in Intel during the fourth quarter valued at $289,752,000. 64.53% of the stock is owned by institutional investors.

Intel Price Performance

Shares of NASDAQ INTC traded up $0.18 during trading hours on Friday, reaching $19.95. 75,147,129 shares of the stock traded hands, compared to its average volume of 93,544,055. The company has a market capitalization of $87.32 billion, a P/E ratio of -4.18 and a beta of 1.22. The company's 50-day simple moving average is $21.56 and its two-hundred day simple moving average is $21.48. 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 52-week low of $17.67 and a 52-week high of $27.55.

Intel (NASDAQ:INTC - Get Free Report) last posted 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 business had revenue of $12.86 billion during the quarter, compared to the consensus estimate of $11.88 billion. During the same period in the prior year, the firm earned $0.02 earnings per share. The business's revenue for the quarter was up .5% on a year-over-year basis. Equities research analysts forecast that Intel Corporation will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INTC. Sanford C. Bernstein lowered their target price on Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Susquehanna lowered their price objective on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 16th. Barclays reiterated a "reduce" rating on shares of Intel in a research report on Tuesday, April 22nd. UBS Group lifted their target price on shares of Intel from $21.00 to $25.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus upped their price target 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. Six investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $22.17.

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.