KLP Kapitalforvaltning AS Purchases 37,700 Shares of Intel Corporation (NASDAQ:INTC)

KLP Kapitalforvaltning AS grew its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 2.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,465,008 shares of the chip maker's stock after acquiring an additional 37,700 shares during the quarter. KLP Kapitalforvaltning AS's holdings in Intel were worth $33,270,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of INTC. Thrivent Financial for Lutherans lifted its position in Intel by 0.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 213,378 shares of the chip maker's stock worth $4,356,000 after purchasing an additional 743 shares during the period. TD Private Client Wealth LLC lifted its position in Intel by 55.0% during the fourth quarter. TD Private Client Wealth LLC now owns 12,110 shares of the chip maker's stock worth $243,000 after purchasing an additional 4,299 shares during the period. CoreFirst Bank & Trust bought a new stake in Intel during the fourth quarter worth about $34,000. Modern Wealth Management LLC lifted its position in Intel by 53.1% during the fourth quarter. Modern Wealth Management LLC now owns 18,707 shares of the chip maker's stock worth $370,000 after purchasing an additional 6,487 shares during the period. Finally, Heritage Wealth Management Inc. CA lifted its position in Intel by 11.2% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 17,044 shares of the chip maker's stock worth $342,000 after purchasing an additional 1,718 shares during the period. Institutional investors own 64.53% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Loop Capital assumed coverage on shares of Intel in a research report on Monday, July 21st. They set a "hold" rating and a $25.00 price objective for the company. Rosenblatt Securities reaffirmed a "sell" rating and set a $14.00 price objective on shares of Intel in a research report on Friday. Wall Street Zen downgraded Intel from a "hold" rating to a "sell" rating in a research note on Saturday. Deutsche Bank Aktiengesellschaft assumed coverage on Intel in a research note on Wednesday, May 21st. They set a "hold" rating and a $23.00 target price for the company. Finally, Susquehanna lowered their target price on Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $22.30.

Intel Trading Down 8.5%

NASDAQ:INTC traded down $1.93 on Friday, reaching $20.70. 244,366,959 shares of the stock traded hands, compared to its average volume of 71,245,776. The firm has a market capitalization of $90.29 billion, a price-to-earnings ratio of -4.34 and a beta of 1.15. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $31.56. The company's 50 day moving average is $21.64 and its 200-day moving average is $21.50. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). The business 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%. Intel's quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 earnings per share. Equities research analysts anticipate that Intel Corporation will post -0.11 EPS for the current fiscal year.

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.