Intel Corporation (NASDAQ:INTC) Shares Sold by ING Groep NV

Key Points

• ING Groep NV has reduced its holdings in Intel Corporation by 20.4%, now owning 669,252 shares valued at approximately $15.2 million.
• Analysts have mixed views on Intel, with 24 analysts giving a hold rating, 6 a sell rating, and only 1 a buy rating, reflecting uncertainty in the stock's performance.
• Intel reported disappointing quarterly earnings with a loss of ($0.10) EPS, missing estimates by ($0.11), although the revenue of $12.86 billion surpassed expectations.

ING Groep NV reduced its position in Intel Corporation (NASDAQ:INTC - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 669,252 shares of the chip maker's stock after selling 171,420 shares during the quarter. ING Groep NV's holdings in Intel were worth $15,199,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. N.E.W. Advisory Services LLC acquired a new position in shares of Intel during the first quarter worth about $25,000. Vermillion Wealth Management Inc. purchased a new stake in Intel during the fourth quarter worth approximately $27,000. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Intel during the first quarter worth approximately $27,000. LFA Lugano Financial Advisors SA purchased a new stake in Intel during the first quarter worth approximately $30,000. Finally, Olde Wealth Management LLC purchased a new stake in Intel during the first quarter worth approximately $31,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on INTC shares. JPMorgan Chase & Co. boosted their target price on Intel from $20.00 to $21.00 and gave the stock an "underweight" rating in a research note on Friday, July 25th. Wells Fargo & Company decreased their target price on Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Needham & Company LLC restated a "hold" rating on shares of Intel in a research note on Friday, July 25th. Mizuho boosted their target price on Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, Stifel Nicolaus boosted 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. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $22.17.

Intel Trading Up 1.0%

Shares of INTC stock opened at $19.50 on Tuesday. The business's fifty day moving average price is $21.57 and its 200 day moving average price is $21.52. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $27.55. The firm has a market capitalization of $85.35 billion, a PE ratio of -4.09 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings data 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). 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 for the quarter, compared to analyst estimates of $11.88 billion. During the same period in the prior year, the company earned $0.02 EPS. The company's revenue was up .5% on a year-over-year basis. As a group, sell-side analysts forecast that Intel Corporation will post -0.11 EPS 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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