New Mexico Educational Retirement Board Buys 12,800 Shares of Intel Corporation $INTC

Key Points

• New Mexico Educational Retirement Board increased its Intel stake 5.5%, buying 12,800 shares in the third quarter to hold 246,270 shares valued at about $29.6 million.
• Intel reported quarterly EPS of $0.52, beating the $0.41 consensus, while revenue of $16.51 billion narrowly missed estimates; revenue rose 20.9% year over year. CEO Lip-Bu Tan also bought 150,000 shares.
• Analyst sentiment is mixed, with MarketBeat’s consensus rating at Hold and an average price target of $97.42; several firms recently lowered their targets.

New Mexico Educational Retirement Board boosted its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,270 shares of the chip maker's stock after acquiring an additional 12,800 shares during the quarter. Intel comprises about 0.7% of New Mexico Educational Retirement Board's investment portfolio, making the stock its 20th biggest position. New Mexico Educational Retirement Board's holdings in Intel were worth $29,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ABS Investment Management LLC purchased a new position in shares of Intel in the 2nd quarter worth approximately $694,101,000. Montgomery Financial Services LLC bought a new position in shares of Intel during the 2nd quarter valued at approximately $26,000. Knuff & Co LLC purchased a new stake in Intel during the 2nd quarter valued at $29,000. Glynn Capital Management LLC purchased a new stake in Intel during the 2nd quarter valued at $29,000. Finally, Pathway Financial Advisers LLC bought a new stake in Intel in the third quarter worth $25,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel News Summary

Here's some of the latest news about INTC:

• Positive Sentiment: A broader chip rally followed stronger-than-expected results from AI cloud provider CoreWeave, which helped revive confidence in AI infrastructure spending and lifted Intel alongside other semiconductor names. Marvell and Intel Rally as CoreWeave Results Reignite the AI Chip Trade
• Positive Sentiment: Investors also have recent operating results to point to: Intel reported third-quarter revenue growth and strong data-center performance, while adjusted earnings exceeded analysts’ expectations. CEO Lip-Bu Tan’s reported stock purchases may also support confidence in the turnaround, though they do not resolve execution risks. Intel Rises as Chip Stocks Rebound and Investors Revisit Recent Data-Center Strength
• Negative Sentiment: Intel’s near-term outlook remains a counterweight: its latest guidance and expectations for continued PC weakness have raised concerns about the coming quarters, despite data-center strength. SoftBank’s reported losses on its Intel stake and related hedges add to worries about volatility and possible selling pressure. Intel Stock Faces 87 Million-Share Risk After SoftBank Deal

Wall Street Analyst Weigh In

INTC has been the subject of several recent analyst reports. Bank of America lowered shares of Intel from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $145.00 to $100.00 in a research note on Friday, October 30th. Susquehanna cut their price objective on shares of Intel from $105.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, October 30th. KeyCorp reduced their target price on shares of Intel from $155.00 to $140.00 and set an "overweight" rating on the stock in a research note on Friday, October 30th. Truist Financial lowered their target price on shares of Intel from $108.00 to $72.00 and set a "hold" rating for the company in a report on Friday, October 30th. Finally, Wells Fargo & Company lowered their target price on shares of Intel from $120.00 to $80.00 and set an "equal weight" rating for the company in a report on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twenty-eight have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Intel currently has an average rating of "Hold" and an average price target of $97.42.

Insider Buying and Selling at Intel

In other news, CEO Lip Tan purchased 150,000 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was purchased at an average price of $64.73 per share, for a total transaction of $9,709,500.00. Following the completion of the acquisition, the chief executive officer owned 1,464,669 shares of the company's stock, valued at approximately $94,808,024.37. This trade represents a 11.41% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.05% of the company's stock.

Intel Trading Up 7.5%

INTC stock opened at $62.50 on Thursday. The company has a market capitalization of $332.19 billion, a PE ratio of -25.93, a P/E/G ratio of 6.22 and a beta of 2.42. Intel Corporation has a 12 month low of $32.89 and a 12 month high of $142.35. The firm's 50-day moving average is $96.19 and its 200 day moving average is $86.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.31 and a quick ratio of 1.95.

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

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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