Intel Corporation $INTC Stock Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board boosted its stake in shares of Intel Corporation (NASDAQ:INTC) by 5.5% in the third quarter, Holdings Channel reports. The institutional investor owned 246,270 shares of the chip maker’s stock after acquiring an additional 12,800 shares during the period. Intel accounts for 0.7% of New Mexico Educational Retirement Board’s holdings, making the stock its 20th biggest position. New Mexico Educational Retirement Board’s holdings in Intel were worth $29,609,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. State Street Corp increased its position in shares of Intel by 1.2% during the second 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 in the last quarter. Primecap Management Co. CA purchased a new position in Intel during the 2nd quarter worth $10,507,291,000. Amundi grew its stake in Intel by 14.9% during the 1st quarter. Amundi now owns 38,969,192 shares of the chip maker’s stock worth $1,719,710,000 after buying an additional 5,045,936 shares during the last quarter. Bank of America Corp DE increased its position 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 buying an additional 8,342,514 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 valued at $1,354,832,000 after acquiring an additional 112,054 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Key Intel News

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

• 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
• Negative Sentiment: Intel’s near-term outlook remains a counterweight: its latest guidance and expectations for continued PC weakness have raised concerns about the coming quarters, despite data-center strength. SoftBank’s reported losses on its Intel stake and related hedges add to worries about volatility and possible selling pressure. Intel Stock Faces 87 Million-Share Risk After SoftBank Deal

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTC. HSBC reiterated a “buy” rating on shares of Intel in a report on Friday, July 24th. Freedom Broker lowered Intel from a “buy” rating to a “hold” rating and lowered their price target for the stock from $100.00 to $90.00 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 price target for the company. in a report on Friday, October 30th. Stifel Nicolaus set a $90.00 price objective on Intel in a research note on Friday, October 30th. Finally, Zacks Research raised Intel from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 26th. 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 data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $97.42.

Insider Buying and Selling

In related news, CEO Lip Tan bought 150,000 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were bought at an average price of $64.73 per share, with a total value of $9,709,500.00. Following the completion of the transaction, the chief executive officer directly owned 1,464,669 shares of the company’s stock, valued at $94,808,024.37. This represents a 11.41% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.05% of the stock is owned by insiders.

Intel Price Performance

INTC stock opened at $62.50 on Thursday. Intel Corporation has a 52-week low of $32.89 and a 52-week high of $142.35. The company has a quick ratio of 1.95, a current ratio of 2.31 and a debt-to-equity ratio of 0.47. The stock has a market cap of $332.19 billion, a price-to-earnings ratio of -25.93, a price-to-earnings-growth ratio of 6.22 and a beta of 2.42. The business has a fifty day moving average of $96.19 and a two-hundred day moving average of $86.73.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 29th. The chip maker reported $0.52 EPS for the quarter, beating the consensus estimate of $0.41 by $0.11. Intel had a positive return on equity of 4.70% and a negative net margin of 20.09%. The business had revenue of $16.51 billion for the quarter, compared to analyst estimates of $16.56 billion. During the same quarter in the prior year, the company posted $0.23 EPS. The company’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, research analysts anticipate that Intel Corporation will post 1.04 earnings per share for the current year.

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.