Nuveen LLC Makes New Investment in Intel Corporation (NASDAQ:INTC)

Key Points

• Nuveen LLC has acquired a significant stake in Intel Corporation, purchasing approximately 23.7 million shares valued at around $538 million, representing 0.54% ownership of the company.
• Intel reported a loss of ($0.10) earnings per share in its latest quarterly results, missing analyst estimates and indicating a negative net margin of 38.64%.
• Equity analysts maintain a consensus rating of "Hold" on Intel stock, with an average target price of $22.17, despite several firms lowering their price objectives.

Nuveen LLC bought a new stake in Intel Corporation (NASDAQ:INTC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 23,708,924 shares of the chip maker's stock, valued at approximately $538,430,000. Nuveen LLC owned approximately 0.54% of Intel as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. N.E.W. Advisory Services LLC acquired a new stake in shares of Intel during the 1st quarter worth $25,000. Vermillion Wealth Management Inc. purchased a new position in Intel in the 4th quarter valued at about $27,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in Intel in the 1st quarter valued at about $27,000. LFA Lugano Financial Advisors SA purchased a new position in Intel in the 1st quarter valued at about $30,000. Finally, Olde Wealth Management LLC purchased a new position in Intel in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Trading Up 3.7%

Intel stock traded up $0.73 during midday trading on Monday, reaching $20.68. The stock had a trading volume of 172,891,010 shares, compared to its average volume of 94,041,656. The firm's fifty day simple moving average is $21.58 and its two-hundred day simple moving average is $21.48. Intel Corporation has a twelve month low of $17.67 and a twelve month high of $27.55. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. The firm has a market cap of $90.52 billion, a price-to-earnings ratio of -4.34 and a beta of 1.22.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.11). Intel had a negative return on equity of 3.78% and a negative net margin of 38.64%. The firm had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. During the same period in the prior year, the business posted $0.02 EPS. The company's revenue for the quarter was up .5% on a year-over-year basis. Equities analysts anticipate that Intel Corporation will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on INTC. Cfra Research raised shares of Intel to a "hold" rating in a research report on Friday, April 25th. Loop Capital began coverage on shares of Intel in a research note on Monday, July 21st. They set a "hold" rating and a $25.00 price objective on the stock. Citigroup restated a "hold" rating on shares of Intel in a research note on Tuesday, July 8th. Wedbush dropped their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a report on Wednesday, April 30th. Six analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $22.17.

About Intel

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.