US Bancorp DE Has $59.63 Million Stock Position in Intel Corporation (NASDAQ:INTC)

Key Points

• US Bancorp DE has reduced its stake in Intel Corporation by 7.7%, owning 2,625,590 shares valued at approximately $59.63 million.
• Several institutional investors, including UBS AM and Northern Trust Corp, have increased their stakes in Intel, contributing to a total institutional ownership of 64.53%.
• Despite a slight revenue increase, Intel reported a net loss in earnings per share for the last quarter, missing analyst expectations and resulting in a current average price target of $22.30 for the stock.

US Bancorp DE lowered its position in Intel Corporation (NASDAQ:INTC - Free Report) by 7.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,625,590 shares of the chip maker's stock after selling 219,893 shares during the period. US Bancorp DE owned about 0.06% of Intel worth $59,627,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intel by 8.2% during 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 worth $1,268,430,000 after acquiring an additional 4,793,927 shares during the period. Northern Trust Corp increased its holdings in Intel by 15.5% during the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock worth $918,522,000 after purchasing an additional 6,157,853 shares in the last quarter. Invesco Ltd. raised its stake in shares of Intel by 9.4% in the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock valued at $863,931,000 after purchasing an additional 3,696,377 shares during the period. Deutsche Bank AG lifted its holdings in shares of Intel by 14.1% in the fourth quarter. Deutsche Bank AG now owns 24,030,097 shares of the chip maker's stock valued at $481,803,000 after purchasing an additional 2,965,308 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of Intel by 2.7% during the fourth quarter. Nuveen Asset Management LLC now owns 22,197,729 shares of the chip maker's stock worth $445,064,000 after buying an additional 576,788 shares during the period. Institutional investors and hedge funds own 64.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on INTC shares. Sanford C. Bernstein dropped their target price on Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Mizuho lifted their price objective on shares of Intel from $22.00 to $23.00 and gave the company a "neutral" rating in a report on Thursday, July 3rd. Seaport Res Ptn raised shares of Intel to a "strong sell" rating in a research report on Wednesday, April 30th. Susquehanna decreased 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, Citigroup reissued a "hold" rating on shares of Intel in a research report on Tuesday, July 8th. Six investment analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $22.30.

Intel Stock Down 2.5%

INTC opened at $19.31 on Friday. The stock's fifty day simple moving average is $21.58 and its 200 day simple moving average is $21.51. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $27.55. The stock has a market cap of $84.52 billion, a PE ratio of -4.05 and a beta of 1.22. The company has a current ratio of 1.24, a quick ratio of 0.92 and a debt-to-equity ratio of 0.42.

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

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