PNC Financial Services Group Inc. Has $161.19 Million Holdings in Intel Corporation $INTC

PNC Financial Services Group Inc. cut its holdings in shares of Intel Corporation (NASDAQ:INTC) by 0.7% during the first quarter, Holdings Channel reports. The fund owned 3,652,503 shares of the chip maker’s stock after selling 24,509 shares during the period. PNC Financial Services Group Inc.’s holdings in Intel were worth $161,185,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sivia Capital Partners LLC grew its holdings in Intel by 271.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 34,201 shares of the chip maker’s stock worth $766,000 after acquiring an additional 25,001 shares during the last quarter. United Bank acquired a new stake in shares of Intel in the second quarter valued at approximately $205,000. Gamco Investors INC. ET AL raised its position in Intel by 12.3% in the 2nd quarter. Gamco Investors INC. ET AL now owns 13,737 shares of the chip maker’s stock worth $308,000 after purchasing an additional 1,508 shares during the last quarter. NewEdge Advisors LLC raised its position in Intel by 29.6% in the 2nd quarter. NewEdge Advisors LLC now owns 158,277 shares of the chip maker’s stock worth $3,545,000 after purchasing an additional 36,116 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in Intel by 9.9% during the 2nd quarter. Sei Investments Co. now owns 828,352 shares of the chip maker’s stock worth $18,556,000 after buying an additional 74,838 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

INTC opened at $102.62 on Thursday. The stock has a market cap of $515.77 billion, a P/E ratio of -165.51 and a beta of 2.18. Intel Corporation has a 12 month low of $18.97 and a 12 month high of $142.35. The company has a quick ratio of 1.85, a current ratio of 2.31 and a debt-to-equity ratio of 0.34. The company has a fifty day simple moving average of $116.48 and a 200 day simple moving average of $77.54.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, April 23rd. The chip maker reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.28. Intel had a positive return on equity of 0.39% and a negative net margin of 5.90%.The firm had revenue of $13.58 billion during the quarter, compared to analysts’ expectations of $12.32 billion. During the same period in the previous year, the firm earned $0.13 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. On average, research analysts expect that Intel Corporation will post 0.65 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Zacks Research raised Intel from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 23rd. Citigroup upgraded Intel from a “buy” rating to a “buy” rating in a research report on Thursday, June 11th. JPMorgan Chase & Co. boosted their price objective on Intel from $35.00 to $45.00 and gave the stock an “underweight” rating in a report on Friday, April 24th. Wolfe Research initiated coverage on shares of Intel in a research report on Thursday, June 11th. They set a “peer perform” rating on the stock. Finally, Tigress Financial raised their target price on shares of Intel from $66.00 to $118.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, twenty-nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $102.77.

More Intel News

Here are the key news stories impacting Intel this week:

• Positive Sentiment: Intel’s foundry business landed its first named outside customer under CEO Lip-Bu Tan, with Fortinet signing on to use Intel Foundry for its Security Processor 6 on Intel 4. The announcement also reinforced the idea that Intel is gaining traction in contract manufacturing. Intel’s foundry lands first named customer under CEO Lip-Bu Tan, as Fortinet signs on for security chips
• Positive Sentiment: Analyst and market commentary turned more constructive ahead of earnings, with reports citing stronger server demand, pricing gains, and a likely Q2 revenue beat. Several funds were also said to be buying Intel stock ahead of the results. Wedbush delivers bold verdict on Intel stock ahead of earnings
• Positive Sentiment: Intel also benefited from a broader chip rebound and optimism around AI demand, with several stories suggesting its turnaround, foundry efforts, and AI infrastructure exposure could support upside if Thursday’s report confirms momentum. Intel results test if AI-fueled rally has room to run
• Neutral Sentiment: There were also reports that Intel is seeking a partner for its Ohio chip fab, rather than selling it outright, and SK hynix quickly denied acquisition talks. That kept the rumor mill active but did not create a clear new strategic catalyst. Intel mulls partnership for Ohio chip fab, SK Hynix among candidates – report
• Negative Sentiment: Pressure remains from a sluggish PC market, high expectations after a huge year-to-date run, and reports of fresh data-center layoffs as CEO Lip-Bu Tan continues restructuring. Investors appear concerned that earnings may need to be very strong to justify the recent rally. Intel plans layoffs within its data center group

Insider Activity at Intel

In other news, EVP Boise April Miller sold 40,256 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $99.53, for a total transaction of $4,006,679.68. Following the sale, the executive vice president owned 105,077 shares of the company’s stock, valued at $10,458,313.81. This trade represents a 27.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.05% of the stock is currently owned by corporate insiders.

About Intel

Intel Corporation, founded in 1968 by Robert Noyce and Gordon E. Moore and headquartered in Santa Clara, California, is a leading global designer and manufacturer of semiconductor products. The company is historically notable for introducing the first commercial microprocessor and for driving the x86 architecture that underpins many personal computers and servers. Intel’s core business spans the design, fabrication and marketing of processors, chipsets and related components for a wide range of computing applications.

Intel’s product portfolio includes client and mobile processors marketed under brands such as Intel Core and Pentium, as well as high-performance Xeon processors for data centers and cloud infrastructure.