OVERSEA CHINESE BANKING Corp Ltd Acquires 450,888 Shares of Intel Corporation (NASDAQ:INTC)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd has significantly increased its stake in Intel by 80.1%, acquiring an additional 450,888 shares in the first quarter, bringing its total to 1,013,798 shares valued at approximately $23.34 million.
• Intel reported a (0.10) earnings per share for the latest quarter, missing analysts' expectations, though revenue was up 0.5% year-over-year.
• Stock analysts have made varied adjustments to Intel's price targets, with the average target currently at $22.30 and a consensus rating of "Hold."

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 80.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,013,798 shares of the chip maker's stock after acquiring an additional 450,888 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Intel were worth $23,341,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Freestone Grove Partners LP bought a new stake in Intel during the 4th quarter valued at about $62,654,000. Toronto Dominion Bank grew its stake in shares of Intel by 286.8% in the fourth quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock worth $211,114,000 after acquiring an additional 7,806,882 shares during the period. 180 Wealth Advisors LLC grew its stake in shares of Intel by 124.9% in the first quarter. 180 Wealth Advisors LLC now owns 127,916 shares of the chip maker's stock worth $2,905,000 after acquiring an additional 71,049 shares during the period. Alteri Wealth LLC bought a new stake in shares of Intel in the fourth quarter worth approximately $2,379,000. Finally, Gordian Capital Singapore Pte Ltd grew its stake in shares of Intel by 120.7% in the fourth quarter. Gordian Capital Singapore Pte Ltd now owns 64,000 shares of the chip maker's stock worth $1,282,000 after acquiring an additional 35,000 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Shares of NASDAQ:INTC opened at $19.31 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $27.55. The company has a market capitalization of $84.52 billion, a P/E ratio of -4.05 and a beta of 1.22. The firm's 50 day simple moving average is $21.58 and its two-hundred day simple moving average is $21.51.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.11). Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The firm had revenue of $12.86 billion for the quarter, compared to analysts' expectations of $11.88 billion. During the same period in the prior year, the firm earned $0.02 EPS. Intel's revenue for the quarter was up .5% compared to the same quarter last year. Research analysts expect that Intel Corporation will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on INTC shares. Mizuho lifted their price target on shares of Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Wedbush reduced their price target 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. Morgan Stanley reduced their price target on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Wells Fargo & Company reduced their price target 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. Finally, Wall Street Zen lowered shares of Intel from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Six equities research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $22.30.

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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