Maryland State Retirement & Pension System Buys 132,191 Shares of Intel Corporation $INTC

Maryland State Retirement & Pension System grew its stake in Intel Corporation (NASDAQ:INTC) by 56.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 368,282 shares of the chip maker’s stock after acquiring an additional 132,191 shares during the quarter. Intel accounts for 0.7% of Maryland State Retirement & Pension System’s holdings, making the stock its 27th biggest position. Maryland State Retirement & Pension System’s holdings in Intel were worth $44,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. State Street Corp boosted its stake in 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 acquiring an additional 2,528,657 shares during the last quarter. Primecap Management Co. CA bought a new stake in Intel in the second quarter valued at approximately $10,507,291,000. Bank of America Corp DE increased its stake in Intel by 35.7% in the second 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. Legal & General Group Plc bought a new stake in Intel in the second quarter valued at approximately $4,096,110,000. Finally, Assenagon Asset Management S.A. raised its holdings in Intel by 87.1% in the third quarter. Assenagon Asset Management S.A. now owns 30,214,769 shares of the chip maker’s stock worth $3,632,722,000 after purchasing an additional 14,063,302 shares during the period. 64.53% of the stock is owned by institutional investors.

Key Intel News

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

• 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
• 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 Analyst Weigh In

A number of brokerages have recently weighed in on INTC. Evercore reissued an “outperform” rating and set a $133.00 price target on shares of Intel in a research report on Friday, October 30th. HSBC restated a “buy” rating on shares of Intel in a research report on Friday, July 24th. Wall Street Zen downgraded Intel from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. National Bank Financial set a $85.00 price objective on Intel in a research note on Monday, October 19th. Finally, Weiss Ratings upgraded Intel from a “sell (d)” rating to a “sell (d+)” rating in a report on Wednesday, November 4th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, twenty-eight have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $97.42.

Intel Stock Performance

Shares of INTC stock opened at $62.50 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.95 and a current ratio of 2.31. The company has a market capitalization of $332.19 billion, a P/E ratio of -25.93, a price-to-earnings-growth ratio of 6.22 and a beta of 2.42. The company’s 50 day moving average price is $96.19 and its two-hundred day moving average price is $86.73. Intel Corporation has a 52 week low of $32.89 and a 52 week high of $142.35.

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

Insider Activity at Intel

In related news, CEO Lip Tan acquired 150,000 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were acquired at an average cost of $64.73 per share, for a total transaction of $9,709,500.00. Following the completion of the acquisition, the chief executive officer directly owned 1,464,669 shares in the company, valued at approximately $94,808,024.37. The trade was a 11.41% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by 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.