Public Sector Pension Investment Board Raises Stake in Intel Corporation (NASDAQ:INTC)

Key Points

• The Public Sector Pension Investment Board increased its ownership in Intel Corporation by 7.5% during the first quarter, bringing its total holdings to approximately 1.86 million shares worth around $42.3 million.
• Intel's earnings report revealed a loss of ($0.10) EPS, falling short of analysts' expectations, despite a revenue increase to $12.86 billion, surpassing forecasts.
• Recent analyst ratings for Intel show a mixed outlook, with target prices ranging from $20 to $25, and a consensus average rating of "Hold."

Public Sector Pension Investment Board raised its position in Intel Corporation (NASDAQ:INTC - Free Report) by 7.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,863,458 shares of the chip maker's stock after acquiring an additional 130,350 shares during the quarter. Public Sector Pension Investment Board's holdings in Intel were worth $42,319,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. AIA Group Ltd increased its position in shares of Intel by 171.1% in the first quarter. AIA Group Ltd now owns 89,987 shares of the chip maker's stock valued at $2,044,000 after acquiring an additional 56,790 shares during the period. Ballast Inc. increased its position in shares of Intel by 5.3% in the first quarter. Ballast Inc. now owns 45,107 shares of the chip maker's stock valued at $1,024,000 after acquiring an additional 2,276 shares during the period. Operose Advisors LLC increased its position in shares of Intel by 8,250.0% in the first quarter. Operose Advisors LLC now owns 8,350 shares of the chip maker's stock valued at $190,000 after acquiring an additional 8,250 shares during the period. Independent Advisor Alliance increased its position in shares of Intel by 38.5% during the first quarter. Independent Advisor Alliance now owns 110,907 shares of the chip maker's stock valued at $2,519,000 after buying an additional 30,804 shares during the period. Finally, SouthState Corp increased its position in shares of Intel by 5.9% during the first quarter. SouthState Corp now owns 12,030 shares of the chip maker's stock valued at $273,000 after buying an additional 665 shares during the period. Hedge funds and other institutional investors own 64.53% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on INTC shares. UBS Group boosted their price target on shares of Intel from $21.00 to $25.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wedbush reduced their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company reduced their price target 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. Stifel Nicolaus boosted their price target on shares of Intel from $21.00 to $24.50 and gave the company a "hold" rating in a research report on Monday, July 21st. Finally, Sanford C. Bernstein reduced their price target on shares of Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. 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. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $22.17.

Intel Stock Up 5.6%

Shares of Intel stock traded up $1.16 on Tuesday, reaching $21.81. The stock had a trading volume of 134,096,598 shares, compared to its average volume of 92,172,464. The company has a 50 day moving average price of $21.61 and a 200 day moving average price of $21.48. 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 1 year low of $17.67 and a 1 year high of $27.55. The stock has a market capitalization of $95.46 billion, a P/E ratio of -4.57 and a beta of 1.22.

Intel (NASDAQ:INTC - Get Free Report) last posted its earnings results 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). 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 during the quarter, compared to analyst estimates of $11.88 billion. During the same quarter in the prior year, the firm earned $0.02 earnings per share. The business's revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts forecast that Intel Corporation will post -0.11 EPS for the current 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.