On October 12, 2023, it was reported that &Virtu Financial LLC had acquired a new stake in Intel Co. (NASDAQ: INTC) during the second quarter of the year. According to the company’s filing with the Securities & Exchange Commission, the fund purchased 138,841 shares of the chip maker’s stock. This acquisition is valued at approximately $4,643,000.
This news comes after Intel released its quarterly earnings data on July 27th, 2023. During this period, Intel reported earnings per share (EPS) of ($0.05), surpassing the consensus estimate of ($0.19) by $0.14. The company generated revenue of $12.95 billion for the quarter, exceeding analysts’ expectations of $12.03 billion.
It is worth noting that Intel also posted a positive return on equity of 1.70% and a negative net margin of 1.71% during this time frame.
Looking ahead, analysts anticipate that Intel Co. will report earnings per share of -0.09 for the current year.
This recent development showcases Virtu Financial LLC’s confidence in Intel’s future prospects and their decision to invest a substantial amount in acquiring the company’s shares.
Intel is known for its leading position in designing and manufacturing semiconductor chips used in various electronic devices such as personal computers and servers. With its strong track record and innovative technological solutions, it has established itself as a prominent player in the industry.
As market trends continue to evolve and demand for advanced computer chips increases, international investors like Virtu Financial LLC recognize potential investment opportunities in companies like Intel.
While past performance does not guarantee future success, these recent events highlight interest and confidence from investors regarding Intel’s financial outlook.
The global technology sector remains highly competitive with constant advancements in innovation driving growth opportunities. As companies adapt to changing market dynamics and consumer preferences in an increasingly digital world, strategic investments and acquisitions play a crucial role in positioning themselves for long-term success.
As we move forward, it will be interesting to observe how Intel leverages its strengths and capitalizes on emerging opportunities. The company’s ability to innovate and navigate the ever-evolving landscape of the technology industry will ultimately determine its success in the years ahead.
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Changes in Institutional Investors’ Positions and Analyst Ratings for Intel Co.
Intel Co., a leading chip maker, has recently seen changes in its positions from various institutional investors. Psagot Value Holdings Ltd. Israel has increased its stake in Intel by 43.7% during the first quarter, acquiring an additional 1,356 shares and bringing their total ownership to 4,456 shares, valued at $142,000. Birchcreek Wealth Management LLC also lifted its position in Intel by 5.4% during the second quarter, adding 1,525 shares to their portfolio which is now worth $987,000.
Another institutional investor making a move is Avaii Wealth Management LLC, who purchased a new stake in Intel during the first quarter with a value of approximately $354,000. ProShare Advisors LLC increased its position in Intel by 11.3% during the same quarter, buying an additional 483,917 shares and bringing their total ownership to 4,754,164 shares worth $155,319,000. Finally, Spire Wealth Management saw a significant increase of 27.7% in its position in Intel during the first quarter, acquiring an additional 8,790 shares and now owning a total of 40,570 shares valued at $1,325,000. It is noteworthy that institutional investors and hedge funds currently hold 60.84% of the company’s stock.
On Wednesday’s trading session on October 12th , INTC stock traded up $0.13 and closed at $36.56 after exchanging approximately 9,839,419 shares. This compares to an average trading volume of 42,307 ,648 shares for Intel Co.to date . The stock’s current performance indicates a positive trend as it exceeds both its simple moving averages for the past 50 days ($35.40) and for the past 200 days ($33.21).
It is also important to consider Intel’s financial standing and market position. The company has a market capitalization of $153.11 billion and a price-to-earnings ratio of -165.58, reflecting certain challenges that the company may be facing in terms of profitability compared to its valuation. Intel’s beta, a measure of stock volatility in relation to the market, is 0.87, indicating a lower level of risk compared to the overall market.
Furthermore, Intel recently announced a quarterly dividend which was paid on September 1st to shareholders of record as of August 7th. The dividend payment amounted to $0.125 per share on an annualized basis, representing a yield of 1.37%. However, it is important to note that Intel’s payout ratio is -227.26%, suggesting that the company may not be generating sufficient earnings to cover its dividend payments.
Several research reports have also been published on Intel’s performance. StockNews.com initiated coverage and issued a “hold” rating for the company on October 5th . Wedbush analysts increased their price objective from $30.00 to $35.00 and gave Intel a “neutral” rating in their research note on July 28th . Similarly, Citigroup raised their price objective from $29.50 to $34.00 and assigned a “neutral” rating on July 18th . Roth Mkm reaffirmed a “neutral” rating with a price objective of $35.00 on October 4th , while Evercore ISI analysts raised their price target from $36.00 to $40.00 and gave Intel an “in-line” rating on July 28th.
According to Bloomberg data, there are currently five equities research analysts who have rated INTC stock as “sell,” twenty-three have assigned it as “hold,” and six have given it a “buy” rating.
