State of Alaska Department of Revenue Reduces Stock Holdings in Intel Corporation $INTC

Key Points

• The State of Alaska Department of Revenue decreased its stake in Intel Corporation by 3.7%, owning 489,711 shares valued at approximately $10.97 million after selling 18,605 shares.
• Numerous analysts have recently revised their price targets for Intel, with Cantor Fitzgerald raising it from $26.00 to $36.00, indicating a generally positive sentiment despite mixed ratings.
• Intel reported a loss of $0.10 earnings per share for the last quarter, missing expectations but achieving a revenue of $12.86 billion, slightly above analyst forecasts.

State of Alaska Department of Revenue cut its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 3.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 489,711 shares of the chip maker's stock after selling 18,605 shares during the period. State of Alaska Department of Revenue's holdings in Intel were worth $10,969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of INTC. Nuveen LLC acquired a new stake in shares of Intel during the 1st quarter worth approximately $538,430,000. Kingstone Capital Partners Texas LLC purchased a new position in Intel in the second quarter worth approximately $345,245,000. Price T Rowe Associates Inc. MD increased its stake in Intel by 99.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 29,829,385 shares of the chip maker's stock worth $677,426,000 after acquiring an additional 14,901,457 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Intel by 133.3% in the first quarter. Goldman Sachs Group Inc. now owns 18,758,658 shares of the chip maker's stock valued at $426,009,000 after purchasing an additional 10,719,274 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in Intel by 86.4% in the second quarter. Assenagon Asset Management S.A. now owns 22,705,050 shares of the chip maker's stock valued at $508,593,000 after purchasing an additional 10,523,590 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on INTC shares. Cantor Fitzgerald raised their price objective on Intel from $26.00 to $36.00 and gave the stock a "neutral" rating in a research report on Friday, September 19th. Stifel Nicolaus lifted 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. Northland Securities boosted their price target on shares of Intel from $28.00 to $42.00 in a research note on Friday, September 19th. Sanford C. Bernstein reaffirmed a "market perform" rating on shares of Intel in a research report on Tuesday, August 19th. Finally, Loop Capital initiated coverage on shares of Intel in a report on Monday, July 21st. They issued a "hold" rating and a $25.00 target price for the company. Two research analysts have rated the stock with a Buy rating, twenty-four have issued a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus target price of $25.90.

Intel Stock Up 4.4%

Shares of Intel stock opened at $35.50 on Friday. 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 52-week low of $17.67 and a 52-week high of $36.30. The company has a market capitalization of $155.38 billion, a P/E ratio of -7.44 and a beta of 1.23. The company has a 50 day moving average of $24.17 and a 200 day moving average of $22.41.

Intel (NASDAQ:INTC - Get Free Report) last released 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). 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 for the quarter, compared to analysts' expectations of $11.88 billion. During the same period last year, the firm posted $0.02 earnings per share. Intel's revenue for the quarter was up .5% on a year-over-year basis. Intel has set its Q3 2025 guidance at 0.000-0.000 EPS. As a group, research analysts forecast that Intel Corporation will post -0.11 EPS 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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