Neuberger Berman Group LLC Increases Stake in Intel Corporation (NASDAQ:INTC)

Key Points

• Neuberger Berman Group LLC significantly increased its holdings in Intel Corporation by 1,091.1%, acquiring over 10 million additional shares in the first quarter, bringing its total to approximately 11.2 million shares worth $254.6 million.
• Wall Street analysts maintain a consensus rating of "Hold" for Intel, with a range of price targets, the highest being $25.00 and the lowest at $14.00, indicating uncertainty about the stock's performance.
• Intel's latest earnings report showed a loss of $0.10 per share, underperforming compared to the consensus estimate of earnings, despite a slight increase in revenue year-over-year.

Neuberger Berman Group LLC raised its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 1,091.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,204,926 shares of the chip maker's stock after buying an additional 10,264,175 shares during the period. Neuberger Berman Group LLC owned about 0.26% of Intel worth $254,641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Cornerstone Advisory LLC increased its stake in shares of Intel by 4.3% in the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after purchasing an additional 409 shares in the last quarter. Evergreen Capital Management LLC increased its stake in shares of Intel by 1.0% in the fourth quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after purchasing an additional 419 shares in the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Intel by 1.1% in the first quarter. Verdence Capital Advisors LLC now owns 45,682 shares of the chip maker's stock worth $1,037,000 after purchasing an additional 486 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in shares of Intel by 23.1% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 2,614 shares of the chip maker's stock worth $59,000 after purchasing an additional 491 shares in the last quarter. Finally, one8zero8 LLC increased its stake in shares of Intel by 4.2% in the first quarter. one8zero8 LLC now owns 12,320 shares of the chip maker's stock worth $280,000 after purchasing an additional 500 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on INTC shares. Wells Fargo & Company reduced their price objective on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Needham & Company LLC reissued a "hold" rating on shares of Intel in a research note on Friday, July 25th. Loop Capital started coverage on shares of Intel in a research note on Monday, July 21st. They issued a "hold" rating and a $25.00 price objective for the company. Rosenblatt Securities reissued a "sell" rating and issued a $14.00 price objective on shares of Intel in a research note on Friday, July 25th. Finally, Wedbush reduced their price objective on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Six investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Intel has a consensus rating of "Hold" and a consensus price target of $22.17.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $21.81 on Wednesday. Intel Corporation has a 52 week low of $17.67 and a 52 week high of $27.55. The stock has a market capitalization of $95.46 billion, a P/E ratio of -4.57 and a beta of 1.22. The firm has a fifty day simple moving average of $21.61 and a two-hundred day simple moving average of $21.48. 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 (NASDAQ:INTC - Get Free Report) last released its earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.11). The firm had revenue of $12.86 billion during 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 revenue was up .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. On average, analysts expect that Intel Corporation will post -0.11 earnings per share for the current fiscal 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.

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