Legacy Trust Sells 11,204 Shares of Intel Corporation $INTC

Key Points

• Legacy Trust cut its Intel stake by 54.8% in the third quarter, selling 11,204 shares and retaining 9,258 shares valued at $1.11 million.
• Analyst views remain mixed, with MarketBeat reporting an average “Hold” rating and a $96.93 average price target; several firms recently lowered their targets.
• Intel reported quarterly EPS of $0.52, above the $0.41 consensus, while revenue of $16.51 billion narrowly missed estimates but rose 20.9% year over year.

Legacy Trust cut its position in Intel Corporation (NASDAQ:INTC - Free Report) by 54.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,258 shares of the chip maker's stock after selling 11,204 shares during the quarter. Legacy Trust's holdings in Intel were worth $1,113,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp grew its position in shares of Intel by 1.2% in the 2nd quarter. State Street Corp now owns 216,849,675 shares of the chip maker's stock worth $30,278,720,000 after buying an additional 2,528,657 shares during the last quarter. Primecap Management Co. CA bought a new position in shares of Intel during the 2nd quarter worth approximately $10,507,291,000. Amundi lifted its position in Intel by 14.9% during the first quarter. Amundi now owns 38,969,192 shares of the chip maker's stock valued at $1,719,710,000 after acquiring an additional 5,045,936 shares during the last quarter. Bank of America Corp DE lifted its position in Intel by 35.7% during the second quarter. Bank of America Corp DE now owns 31,724,362 shares of the chip maker's stock valued at $4,429,673,000 after acquiring an additional 8,342,514 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Intel by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 30,700,929 shares of the chip maker's stock valued at $1,354,832,000 after acquiring an additional 112,054 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on INTC. Citigroup cut their price target on shares of Intel from $130.00 to $100.00 and set a "buy" rating on the stock in a report on Friday, October 30th. Piper Sandler assumed coverage on Intel in a research report on Wednesday, September 9th. They set a "neutral" rating and a $110.00 price target on the stock. Daiwa Securities Group lowered Intel from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 4th. Zacks Research raised Intel from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 26th. Finally, Wells Fargo & Company dropped their target price on Intel from $120.00 to $80.00 and set an "equal weight" rating on the stock in a research note on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twenty-eight have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $96.93.

Intel Stock Down 2.1%

INTC stock opened at $61.20 on Friday. The firm has a 50 day moving average of $95.61 and a 200 day moving average of $86.83. The stock has a market capitalization of $325.28 billion, a PE ratio of -25.39, a price-to-earnings-growth ratio of 6.68 and a beta of 2.42. The company has a quick ratio of 1.95, a current ratio of 2.31 and a debt-to-equity ratio of 0.47. Intel Corporation has a 52 week low of $32.89 and a 52 week high of $142.35.

Intel (NASDAQ:INTC - Get Free Report) last released its earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.11. Intel had a negative net margin of 20.09% and a positive return on equity of 4.70%. The company had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.56 billion. During the same quarter in the previous year, the firm earned $0.23 EPS. Intel's revenue was up 20.9% compared to the same quarter last year. Sell-side analysts forecast that Intel Corporation will post 1.04 earnings per share for the current year.

Recent Intel Headlines

Investors following INTC have been watching these headlines:

• Positive Sentiment: Intel and RadixArk will work to improve open AI inference on Intel platforms, including upstreaming SGLang optimizations. The partnership may support developer adoption of Intel infrastructure. Intel and RadixArk collaboration
• Negative Sentiment: Reports of Nvidia CEO Jensen Huang’s departure have unsettled investors over the companies’ partnership and future chip roadmap. Nvidia holds 214.78 million Intel shares, valued at roughly $13 billion, adding uncertainty about future collaboration and the stake’s implications. Nvidia leadership uncertainty and Intel
• Negative Sentiment: Bank of America lowered its Intel price target from $100 to $80 and kept a neutral rating, signaling reduced expectations. Bank of America price-target change

Insider Activity at Intel

In related news, CEO Lip Tan acquired 150,000 shares of the stock in a transaction dated Monday, November 2nd. The stock was acquired at an average cost of $64.73 per share, for a total transaction of $9,709,500.00. Following the completion of the purchase, the chief executive officer owned 1,464,669 shares of the company's stock, valued at approximately $94,808,024.37. This represents a 11.41% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.05% of the company's stock.

Intel Company Profile

Intel Corporation is a semiconductor company that designs and manufactures processors and related technologies. Its products include central processing units for personal computers and servers, graphics and AI accelerators, and platforms and components for data center, networking, and edge computing applications. The company also operates Intel Foundry, which provides semiconductor manufacturing, packaging, and related services for Intel and external customers. Intel serves customers and businesses around the world through its products, technologies, and manufacturing operations.

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