TCW Group Inc. Boosts Stake in Intel Corporation (NASDAQ:INTC)

Key Points

• TCW Group Inc. significantly increased its stake in Intel Corporation by 1,966.4%, acquiring over 1.19 million shares, bringing its total holdings to approximately $28.4 million.
• Recent analyst ratings reveal mixed opinions on Intel stock, with estimates ranging from a sell rating at $14.00 to a hold rating at $25.00, resulting in an average target price of $22.30.
• Intel's latest quarterly report indicated a loss of $0.10 per share, which was below the analysts' expectations, despite revenue surpassing estimates at $12.86 billion.

TCW Group Inc. lifted its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 1,966.4% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,251,168 shares of the chip maker's stock after purchasing an additional 1,190,619 shares during the quarter. TCW Group Inc.'s holdings in Intel were worth $28,414,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in INTC. Geode Capital Management LLC boosted its position in shares of Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock worth $1,909,761,000 after purchasing an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Intel by 8.2% in the 4th 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 valued at $1,268,430,000 after purchasing an additional 4,793,927 shares during the last quarter. Northern Trust Corp raised its stake in Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after purchasing an additional 6,157,853 shares during the last quarter. Invesco Ltd. increased its stake in shares of Intel by 9.4% during the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock valued at $863,931,000 after acquiring an additional 3,696,377 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Intel by 14.1% during the 4th quarter. Deutsche Bank AG now owns 24,030,097 shares of the chip maker's stock valued at $481,803,000 after acquiring an additional 2,965,308 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on INTC. Mizuho upped their price objective on shares of Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a research note on Thursday, July 3rd. Cantor Fitzgerald decreased their target price on Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Cfra Research upgraded Intel to a "hold" rating in a report on Friday, April 25th. Stifel Nicolaus boosted their target price on Intel from $21.00 to $24.50 and gave the stock a "hold" rating in a report on Monday, July 21st. Finally, Sanford C. Bernstein decreased their price target on Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.30.

Intel Stock Performance

Shares of NASDAQ:INTC traded down $0.12 during midday trading on Wednesday, reaching $20.30. 33,460,020 shares of the company traded hands, compared to its average volume of 93,557,773. The firm has a market capitalization of $88.83 billion, a price-to-earnings ratio of -4.25 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 firm's fifty day moving average price is $21.61 and its two-hundred day moving average price is $21.52.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The chip maker reported ($0.10) EPS 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 during the quarter, compared to analysts' expectations of $11.88 billion. During the same quarter last year, the business earned $0.02 earnings per share. The business's quarterly revenue was up .5% on a year-over-year basis. On average, equities analysts expect that Intel Corporation will post -0.11 earnings per share for the current year.

Intel Company 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.