Northern Trust Corp Acquires 158,288 Shares of Intel Corporation $INTC

Northern Trust Corp boosted its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 0.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,969,843 shares of the chip maker's stock after acquiring an additional 158,288 shares during the quarter. Northern Trust Corp owned 1.05% of Intel worth $1,043,975,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTC. Nuveen LLC acquired a new position in Intel in the first quarter valued at about $538,430,000. Two Sigma Advisers LP acquired a new position in shares of Intel during the fourth quarter worth approximately $289,752,000. Two Sigma Investments LP acquired a new position in shares of Intel during the fourth quarter worth approximately $237,457,000. Goldman Sachs Group Inc. lifted its position in shares of Intel by 133.3% during the first quarter. Goldman Sachs Group Inc. now owns 18,758,658 shares of the chip maker's stock worth $426,009,000 after purchasing an additional 10,719,274 shares in the last quarter. Finally, Neuberger Berman Group LLC lifted its position in shares of Intel by 1,091.1% during the first quarter. Neuberger Berman Group LLC now owns 11,204,926 shares of the chip maker's stock worth $254,641,000 after purchasing an additional 10,264,175 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on INTC shares. JPMorgan Chase & Co. upped their target price on shares of Intel from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Friday, July 25th. Benchmark reiterated a "hold" rating on shares of Intel in a research report on Friday, July 25th. Wells Fargo & Company reduced their target price on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Mizuho upped their target price on shares of Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a research report on Thursday, July 3rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, July 25th. Six equities research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $22.17.

Intel Stock Down 3.7%

Shares of INTC stock opened at $23.66 on Tuesday. The firm has a fifty day moving average of $21.88 and a 200-day moving average of $21.60. 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 Corporation has a 12-month low of $17.67 and a 12-month high of $27.55. The company has a market capitalization of $103.56 billion, a price-to-earnings ratio of -4.96 and a beta of 1.22.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $12.86 billion for 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%. The firm's revenue was up .5% on a year-over-year basis. During the same period in the prior year, the company earned $0.02 EPS. As a group, equities research analysts predict 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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