First Interstate Bank Acquires 1,922 Shares of Intel Co. (NASDAQ:INTC)

First Interstate Bank increased its stake in shares of Intel Co. (NASDAQ:INTC) by 9.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,388 shares of the chip maker’s stock after acquiring an additional 1,922 shares during the period. First Interstate Bank’s holdings in Intel were worth $525,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in INTC. Norden Group LLC raised its holdings in shares of Intel by 27.8% in the first quarter. Norden Group LLC now owns 14,412 shares of the chip maker’s stock valued at $637,000 after purchasing an additional 3,133 shares during the last quarter. Resonant Capital Advisors LLC lifted its position in Intel by 16.6% during the 1st quarter. Resonant Capital Advisors LLC now owns 10,234 shares of the chip maker’s stock worth $452,000 after buying an additional 1,458 shares in the last quarter. StoneX Group Inc. boosted its stake in shares of Intel by 76.5% during the 1st quarter. StoneX Group Inc. now owns 27,946 shares of the chip maker’s stock worth $1,234,000 after buying an additional 12,111 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Intel by 10.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 105,296 shares of the chip maker’s stock valued at $4,651,000 after acquiring an additional 9,884 shares in the last quarter. Finally, Tobam increased its position in shares of Intel by 551.6% in the first quarter. Tobam now owns 195,096 shares of the chip maker’s stock valued at $8,617,000 after acquiring an additional 165,156 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, with a total value of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INTC. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Mizuho lifted their price target on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday. Barclays lowered their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $30.12.

Intel Trading Up 7.8 %

INTC stock traded up $1.68 during mid-day trading on Friday, reaching $23.20. The company’s stock had a trading volume of 173,471,115 shares, compared to its average volume of 59,380,906. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The business’s 50 day moving average price is $21.79 and its 200 day moving average price is $27.02. The company has a market cap of $99.20 billion, a price-to-earnings ratio of -6.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The company’s revenue was down .8% compared to the same quarter last year. On average, equities research analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.