Intel Corporation $INTC Stock Sold by T3 Companies LLC

T3 Companies LLC reduced its stake in Intel Corporation (NASDAQ:INTC) by 96.7% in the third quarter, HoldingsChannel.com reports. The fund owned 9,185 shares of the chip maker’s stock after selling 272,202 shares during the quarter. Intel accounts for 1.1% of T3 Companies LLC’s portfolio, making the stock its 21st biggest position. T3 Companies LLC’s holdings in Intel were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State Street Corp raised its position in shares of Intel by 1.2% during the 2nd quarter. State Street Corp now owns 216,849,675 shares of the chip maker’s stock worth $30,278,720,000 after purchasing an additional 2,528,657 shares during the period. Primecap Management Co. CA acquired a new position in Intel during the 2nd quarter valued at approximately $10,507,291,000. Amundi boosted its position in Intel by 14.9% during the 1st quarter. Amundi now owns 38,969,192 shares of the chip maker’s stock valued at $1,719,710,000 after purchasing an additional 5,045,936 shares during the period. Bank of America Corp DE grew its stake in Intel by 35.7% during the 2nd quarter. Bank of America Corp DE now owns 31,724,362 shares of the chip maker’s stock worth $4,429,673,000 after buying an additional 8,342,514 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of Intel by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 30,700,929 shares of the chip maker’s stock worth $1,354,832,000 after acquiring an additional 112,054 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup initiated coverage on Intel in a report on Monday. They issued an “outperform” rating for the company. Morgan Stanley set a $85.00 price objective on shares of Intel in a research note on Monday. JPMorgan Chase & Co. upgraded Intel from an “underweight” rating to a “neutral” rating and set a $85.00 target price for the company in a research report on Monday. Northland Securities raised Intel from a “market perform” rating to an “outperform” rating and set a $120.00 price target for the company in a research note on Tuesday, September 8th. Finally, TD Cowen lowered their price target on Intel from $115.00 to $95.00 and set a “hold” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, twenty-seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $107.73.

Insider Activity at Intel

In other Intel news, CEO Lip Bu Tan bought 105,263 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $95.00 per share, with a total value of $9,999,985.00. Following the completion of the purchase, the chief executive officer directly owned 1,314,669 shares in the company, valued at approximately $124,893,555. This trade represents a 8.70% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.05% of the stock is owned by insiders.

Intel News Summary

Here are the key news stories impacting Intel this week:

• Positive Sentiment: The FCC granted Intel a waiver allowing the company to use foreign-made robotic devices, potentially easing equipment and supply-chain constraints for its manufacturing operations. FCC grants Intel waiver for foreign-made robotic devices
• Positive Sentiment: Construction progress at Intel’s long-delayed $28 billion Ohio chip project provided evidence that the company is advancing its domestic foundry strategy, while an Arizona fab remains targeted for a 2028 start. Intel Ohio chip project construction milestone
• Positive Sentiment: Analysts expect Intel’s upcoming earnings report to show continued growth, and Nvidia’s investment in Intel was highlighted as a potential vote of confidence in the company’s strategic importance. Intel earnings expectations

Intel Price Performance

Shares of NASDAQ INTC opened at $85.48 on Friday. Intel Corporation has a twelve month low of $32.89 and a twelve month high of $142.35. The company has a current ratio of 1.60, a quick ratio of 1.25 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $431.16 billion, a price-to-earnings ratio of -40.51, a PEG ratio of 9.87 and a beta of 2.22. The firm has a 50-day moving average of $102.28 and a two-hundred day moving average of $102.93.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 23rd. The chip maker reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.21. The company had revenue of $16.13 billion during the quarter, compared to analyst estimates of $14.43 billion. Intel had a negative net margin of 19.79% and a positive return on equity of 2.62%. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS. As a group, analysts expect that Intel Corporation will post 1.05 earnings per share for the current fiscal year.

About Intel

Intel Corporation (NASDAQ:INTC) is a global semiconductor company that designs and manufactures computing and connectivity products. Its portfolio includes Intel Core processors for personal computers, Xeon processors for data centers and enterprise systems, and products for networking, edge computing, graphics, and artificial intelligence workloads.

Through Intel Foundry, the company also provides semiconductor manufacturing and technology-development services for external customers. Intel develops process technologies, advanced packaging, and other manufacturing capabilities intended to support its own products and third-party chip designs.

Founded in 1968 by Robert Noyce and Gordon Moore, Intel helped establish the modern microprocessor industry and has historically supplied processors for PCs, servers, and other computing systems.