MBL Wealth LLC Buys 14,393 Shares of Intel Corporation $INTC

Key Points

• MBL Wealth LLC more than doubled its Intel stake in the third quarter, acquiring 14,393 additional shares to own 27,926 shares valued at approximately $3.36 million.
• Institutional investors own 64.53% of Intel, with major holders including State Street, Bank of America, and Assenagon Asset Management increasing or initiating positions.
• Intel reported quarterly revenue of $16.13 billion and EPS of $0.42, beating analyst expectations, while its stock opened at $85.48—down 8%—and analysts maintained an overall “Hold” rating with a $107.73 average price target.

MBL Wealth LLC boosted its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 106.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,926 shares of the chip maker's stock after acquiring an additional 14,393 shares during the quarter. MBL Wealth LLC's holdings in Intel were worth $3,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its holdings 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 purchasing an additional 2,528,657 shares during the last quarter. Primecap Management Co. CA acquired a new stake in shares of Intel during the 2nd quarter worth about $10,507,291,000. Bank of America Corp DE lifted its holdings in Intel by 35.7% during the 2nd 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 purchasing an additional 8,342,514 shares during the last quarter. Legal & General Group Plc bought a new position in Intel during the 2nd quarter valued at about $4,096,110,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Intel by 87.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 30,214,769 shares of the chip maker's stock valued at $3,632,722,000 after purchasing an additional 14,063,302 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Intel Stock Down 8.0%

Shares of NASDAQ:INTC opened at $85.48 on Friday. Intel Corporation has a 12 month low of $32.89 and a 12 month high of $142.35. The company's 50-day moving average price is $102.28 and its two-hundred day moving average price is $102.93. The company has a quick ratio of 1.25, a current ratio of 1.60 and a debt-to-equity ratio of 0.47. The firm has a market cap of $431.16 billion, a P/E ratio of -40.51, a P/E/G ratio of 9.87 and a beta of 2.22.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The chip maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.21. Intel had a negative net margin of 19.79% and a positive return on equity of 2.62%. The firm had revenue of $16.13 billion during the quarter, compared to analysts' expectations of $14.43 billion. During the same quarter last year, the company posted ($0.10) EPS. The company's quarterly revenue was up 25.2% compared to the same quarter last year. As a group, research analysts forecast that Intel Corporation will post 1.05 EPS for the current fiscal year.

Key Stories Impacting Intel

Here are the key news stories impacting Intel this week:

• Positive Sentiment: The FCC granted Intel a waiver allowing the company to use foreign-made robotic devices, potentially easing equipment and supply-chain constraints for its manufacturing operations. FCC grants Intel waiver for foreign-made robotic devices
• Positive Sentiment: Construction progress at Intel’s long-delayed $28 billion Ohio chip project provided evidence that the company is advancing its domestic foundry strategy, while an Arizona fab remains targeted for a 2028 start. Intel Ohio chip project construction milestone
• Positive Sentiment: Analysts expect Intel’s upcoming earnings report to show continued growth, and Nvidia’s investment in Intel was highlighted as a potential vote of confidence in the company’s strategic importance. Intel earnings expectations

Insider Activity

In related news, CEO Lip Bu Tan bought 105,263 shares of Intel stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $95.00 per share, for a total transaction of $9,999,985.00. Following the completion of the transaction, the chief executive officer owned 1,314,669 shares of the company's stock, valued at approximately $124,893,555. This trade represents a 8.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on INTC shares. Citigroup started coverage on shares of Intel in a research report on Monday. They issued an "outperform" rating on the stock. JPMorgan Chase & Co. raised shares of Intel from an "underweight" rating to a "neutral" rating and set a $85.00 price objective for the company in a report on Monday. Barclays upgraded shares of Intel from a "hold" rating to an "overweight" rating in a research note on Wednesday, September 16th. Tigress Financial lifted their target price on shares of Intel from $118.00 to $145.00 and gave the company a "buy" rating in a research note on Tuesday, September 15th. Finally, Wells Fargo & Company raised their price target on Intel from $110.00 to $120.00 and gave the company an "equal weight" rating in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twenty-seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $107.73.

Intel Company Profile

Intel Corporation NASDAQ: INTC is a global semiconductor company that designs and manufactures computing and connectivity products. Its portfolio includes Intel Core processors for personal computers, Xeon processors for data centers and enterprise systems, and products for networking, edge computing, graphics, and artificial intelligence workloads.

Through Intel Foundry, the company also provides semiconductor manufacturing and technology-development services for external customers. Intel develops process technologies, advanced packaging, and other manufacturing capabilities intended to support its own products and third-party chip designs.

Founded in 1968 by Robert Noyce and Gordon Moore, Intel helped establish the modern microprocessor industry and has historically supplied processors for PCs, servers, and other computing systems.

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