NBT Bank N.A. Acquires 43,822 Shares of Intel Corporation $INTC

Key Points

• NBT Bank acquired 43,822 Intel shares worth approximately $5.27 million in the third quarter. Institutional investors collectively own 64.53% of Intel’s stock.
• Intel reported quarterly revenue of $16.13 billion and earnings of $0.42 per share, beating analyst estimates; revenue increased 25.2% year over year despite a negative net margin.
• Recent developments include an FCC waiver for foreign-made robotic equipment, progress on its Ohio chip project, and a $10 million purchase by CEO Lip-Bu Tan. Analysts maintain a consensus “Hold” rating with an average price target of $107.73.

NBT Bank N.A. acquired a new stake in Intel Corporation (NASDAQ:INTC - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 43,822 shares of the chip maker's stock, valued at approximately $5,269,000.

Other large investors have also recently made changes to their positions in the company. Financial Life Planners bought a new stake in shares of Intel during the 1st quarter worth $25,000. Montgomery Financial Services LLC purchased a new position in shares of Intel in the 2nd quarter worth about $26,000. Glynn Capital Management LLC bought a new position in Intel during the second quarter valued at about $29,000. Knuff & Co LLC bought a new position in Intel during the second quarter valued at about $29,000. Finally, Beaird Harris Wealth Management LLC grew its position in Intel by 3,185.7% during the second quarter. Beaird Harris Wealth Management LLC now owns 230 shares of the chip maker's stock valued at $32,000 after buying an additional 223 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

INTC stock opened at $85.48 on Friday. The firm has a 50 day moving average of $102.28 and a 200-day moving average of $102.93. The company has a current ratio of 1.60, a quick ratio of 1.25 and a debt-to-equity ratio of 0.47. Intel Corporation has a 12 month low of $32.89 and a 12 month high of $142.35. The firm has a market capitalization of $431.16 billion, a P/E ratio of -40.51, a price-to-earnings-growth ratio of 9.87 and a beta of 2.22.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, July 23rd. The chip maker reported $0.42 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $14.43 billion. During the same period in the previous year, the business earned ($0.10) EPS. The business's revenue for the quarter was up 25.2% on a year-over-year basis. As a group, sell-side analysts predict that Intel Corporation will post 1.05 earnings per share for the current fiscal year.

Intel News Roundup

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 Transactions at Intel

In other Intel news, CEO Lip Bu Tan acquired 105,263 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was bought at an average price of $95.00 per share, with a total value of $9,999,985.00. Following the completion of the purchase, the chief executive officer owned 1,314,669 shares of the company's stock, valued at approximately $124,893,555. This 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 this link. Corporate insiders own 0.05% of the company's stock.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research analyst reports. Citigroup initiated coverage on shares of Intel in a report on Monday. They set an "outperform" rating for the company. Mizuho boosted their target price on shares of Intel from $92.00 to $114.00 and gave the company a "neutral" rating in a research note on Tuesday, October 6th. Needham & Company LLC reiterated a "hold" rating on shares of Intel in a research note on Friday, July 24th. Wedbush increased their target price on shares of Intel from $60.00 to $98.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Finally, Wells Fargo & Company raised their price target on shares of Intel from $110.00 to $120.00 and gave the stock an "equal weight" rating in a research note 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 issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Intel presently has a consensus rating of "Hold" and an average target price 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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