Intel Corporation $INTC Holdings Lessened by Legacy Trust

Legacy Trust decreased its position in shares of Intel Corporation (NASDAQ:INTC) by 54.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,258 shares of the chip maker’s stock after selling 11,204 shares during the quarter. Legacy Trust’s holdings in Intel were worth $1,113,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Primecap Management Co. CA purchased a new position in Intel during the 2nd quarter worth approximately $10,507,291,000. Legal & General Group Plc acquired a new stake in Intel during the 2nd quarter valued at approximately $4,096,110,000. Assenagon Asset Management S.A. lifted its stake in Intel by 87.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 30,214,769 shares of the chip maker’s stock valued at $3,632,722,000 after acquiring an additional 14,063,302 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Intel during the 2nd quarter valued at approximately $1,848,438,000. Finally, Bank of America Corp DE boosted its holdings in shares of Intel by 35.7% in the 2nd quarter. Bank of America Corp DE now owns 31,724,362 shares of the chip maker’s stock valued at $4,429,673,000 after acquiring an additional 8,342,514 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Lip Tan acquired 150,000 shares of the business’s stock in a transaction on Monday, November 2nd. The stock was bought at an average price of $64.73 per share, with a total value of $9,709,500.00. Following the completion of the acquisition, the chief executive officer owned 1,464,669 shares of the company’s stock, valued at approximately $94,808,024.37. This represents a 11.41% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.05% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC opened at $61.20 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.31 and a quick ratio of 1.95. The stock has a market capitalization of $325.28 billion, a price-to-earnings ratio of -25.39, a PEG ratio of 6.68 and a beta of 2.42. The firm’s 50 day simple moving average is $95.61 and its 200-day simple moving average is $86.83. Intel Corporation has a 12 month low of $32.89 and a 12 month high of $142.35.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.11. Intel had a negative net margin of 20.09% and a positive return on equity of 4.70%. The firm had revenue of $16.51 billion during the quarter, compared to analysts’ expectations of $16.56 billion. During the same period in the previous year, the business posted $0.23 EPS. The business’s revenue was up 20.9% compared to the same quarter last year. Analysts expect that Intel Corporation will post 1.04 EPS for the current year.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of research reports. Pivotal Research began coverage on shares of Intel in a research note on Tuesday, September 8th. They issued a “buy” rating on the stock. Mizuho boosted their target price on shares of Intel from $92.00 to $114.00 and gave the company a “neutral” rating in a research report on Tuesday, October 6th. Wall Street Zen downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Rosenblatt Securities lowered their price target on shares of Intel from $80.00 to $70.00 and set a “sell” rating on the stock in a report on Friday, October 30th. Finally, TD Cowen cut their price target on Intel from $95.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, twenty-eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $96.93.

More Intel News

These are some of the INTC news items that stood out recently:

• Positive Sentiment: Intel and RadixArk will work to improve open AI inference on Intel platforms, including upstreaming SGLang optimizations. The partnership may support developer adoption of Intel infrastructure. Intel and RadixArk collaboration
• Positive Sentiment: CEO Lip-Bu Tan bought about $9.7 million of Intel shares, a show of confidence in the company after its steep recent decline. Insider purchases can bolster sentiment, though they do not guarantee a turnaround. Intel CEO stock purchase
• Negative Sentiment: Reports of Nvidia CEO Jensen Huang’s departure have unsettled investors over the companies’ partnership and future chip roadmap. Nvidia holds 214.78 million Intel shares, valued at roughly $13 billion, adding uncertainty about future collaboration and the stake’s implications. Nvidia leadership uncertainty and Intel

Intel Company Profile

Intel Corporation is a semiconductor company that designs and manufactures processors and related technologies. Its products include central processing units for personal computers and servers, graphics and AI accelerators, and platforms and components for data center, networking, and edge computing applications. The company also operates Intel Foundry, which provides semiconductor manufacturing, packaging, and related services for Intel and external customers. Intel serves customers and businesses around the world through its products, technologies, and manufacturing operations.