OVERSEA CHINESE BANKING Corp Ltd Boosts Stock Holdings in Intel Corporation (NASDAQ:INTC)

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 1,180.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,209,637 shares of the chip maker's stock after purchasing an additional 6,646,727 shares during the period. Intel accounts for about 0.8% of OVERSEA CHINESE BANKING Corp Ltd's holdings, making the stock its 27th biggest position. OVERSEA CHINESE BANKING Corp Ltd owned 0.17% of Intel worth $163,731,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock valued at $7,400,439,000 after acquiring an additional 6,143,164 shares during the period. Geode Capital Management LLC boosted its position in shares of Intel by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intel by 8.2% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock valued at $1,268,430,000 after acquiring an additional 4,793,927 shares during the period. Norges Bank bought a new stake in Intel during the fourth quarter valued at approximately $1,246,569,000. Finally, Northern Trust Corp lifted its position in Intel by 15.5% during the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after purchasing an additional 6,157,853 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Trading Down 1.6%

Shares of INTC opened at $23.43 on Monday. The firm's 50-day moving average price is $21.33 and its 200-day moving average price is $21.32. The firm has a market capitalization of $102.20 billion, a price-to-earnings ratio of -5.23 and a beta of 1.15. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.12. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The firm had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same quarter in the previous year, the firm posted $0.18 EPS. The company's revenue for the quarter was down .4% compared to the same quarter last year. Sell-side analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

INTC has been the subject of several research analyst reports. Cantor Fitzgerald dropped their target price on shares of Intel from $29.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, April 21st. Sanford C. Bernstein dropped their target price on shares of Intel from $25.00 to $21.00 and set a "market perform" rating for the company in a research report on Tuesday, April 22nd. Wedbush dropped their target price on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Susquehanna dropped their target price on shares of Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a research report on Wednesday, April 16th. Finally, Rosenblatt Securities dropped their target price on shares of Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research report on Friday, April 25th. Five equities research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Intel currently has a consensus rating of "Hold" and a consensus target price of $21.76.

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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