Intel Corporation $INTC Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lessened its stake in shares of Intel Corporation (NASDAQ:INTC) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,260,334 shares of the chip maker’s stock after selling 39,360 shares during the quarter. Fifth Third Bancorp’s holdings in Intel were worth $151,530,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of INTC. Vestor Capital LLC purchased a new stake in shares of Intel during the first quarter worth about $9,441,000. University of Texas Texas AM Investment Management Co. purchased a new position in Intel in the second quarter valued at about $4,995,000. Western Wealth Management LLC boosted its holdings in Intel by 57.7% in the first quarter. Western Wealth Management LLC now owns 21,223 shares of the chip maker’s stock valued at $937,000 after purchasing an additional 7,764 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Intel by 4.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,493,552 shares of the chip maker’s stock valued at $208,541,000 after purchasing an additional 67,588 shares in the last quarter. Finally, 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 valued at $4,429,673,000 after purchasing an additional 8,342,514 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Up 7.5%

INTC stock opened at $62.50 on Thursday. The firm has a market cap of $332.19 billion, a price-to-earnings ratio of 63.19, a PEG ratio of 6.22 and a beta of 2.42. Intel Corporation has a 1-year low of $32.89 and a 1-year high of $142.35. The firm has a fifty day moving average price of $96.19 and a two-hundred day moving average price of $86.73. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.31 and a quick ratio of 1.95.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $16.51 billion for the quarter, compared to the consensus estimate of $16.56 billion. During the same period last year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. Research analysts predict that Intel Corporation will post 1.04 EPS for the current year.

Intel News Summary

Here’s some of the latest news about INTC:

• Positive Sentiment: A broader chip rally followed stronger-than-expected results from AI cloud provider CoreWeave, which helped revive confidence in AI infrastructure spending and lifted Intel alongside other semiconductor names. Marvell and Intel Rally as CoreWeave Results Reignite the AI Chip Trade
• Positive Sentiment: Investors also have recent operating results to point to: Intel reported third-quarter revenue growth and strong data-center performance, while adjusted earnings exceeded analysts’ expectations. CEO Lip-Bu Tan’s reported stock purchases may also support confidence in the turnaround, though they do not resolve execution risks. Intel Rises as Chip Stocks Rebound and Investors Revisit Recent Data-Center Strength
• Neutral Sentiment: SoftBank disclosed that it raised about $7.4 billion against its Intel shares through prepaid forward contracts. The financing highlights the scale of SoftBank’s position, but the reports also flag potential share-supply risk tied to the arrangement. Intel Stocks Climb as SoftBank Reveals Cash Raised Against Intel Shares

Wall Street Analyst Weigh In

INTC has been the topic of several analyst reports. KeyCorp dropped their price objective on Intel from $155.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, October 30th. JPMorgan Chase & Co. reduced their target price on Intel from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, October 30th. UBS Group cut Intel from a “buy” rating to a “hold” rating and set a $90.00 target price for the company. in a research note on Friday, October 30th. Barclays raised shares of Intel from a “hold” rating to an “overweight” rating in a research report on Wednesday, September 16th. Finally, Bank of America lowered shares of Intel from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $145.00 to $100.00 in a research note on Friday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued 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.com, Intel currently has a consensus rating of “Hold” and an average price target of $97.42.

Insiders Place Their Bets

In other Intel news, CEO Lip Tan bought 150,000 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were purchased 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 directly owned 1,464,669 shares of the company’s stock, valued at approximately $94,808,024.37. The trade was a 11.41% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.05% of the stock is currently owned by company insiders.

Intel 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.