Envestnet Asset Management Inc. Raises Holdings in Intel Corporation (NASDAQ:INTC)

Envestnet Asset Management Inc. increased its position in shares of Intel Corporation (NASDAQ:INTC) by 19.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 953,590 shares of the chip maker’s stock after purchasing an additional 156,845 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Intel were worth $21,656,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in INTC. Vanguard Group Inc. grew its holdings in Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after buying an additional 6,143,164 shares in the last quarter. Geode Capital Management LLC grew its holdings in Intel by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after buying an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Intel by 8.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock valued at $1,268,430,000 after buying an additional 4,793,927 shares in the last quarter. Norges Bank purchased a new stake in Intel in the 4th quarter valued at $1,246,569,000. Finally, Northern Trust Corp grew its holdings in Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock valued at $918,522,000 after buying an additional 6,157,853 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Intel in a research note on Wednesday, May 21st. They issued a “hold” rating and a $23.00 price target on the stock. Mizuho upped their price target on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Thursday, July 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 25th. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, April 25th. Finally, Rosenblatt Securities decreased their price target on Intel from $18.00 to $14.00 and set a “sell” rating on the stock in a research note on Friday, April 25th. Five analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.95.

Intel Price Performance

Shares of NASDAQ INTC opened at $22.69 on Thursday. The stock’s 50-day moving average is $21.50 and its two-hundred day moving average is $21.36. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $37.16. The company has a market cap of $98.97 billion, a price-to-earnings ratio of -5.06 and a beta of 1.15.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The business had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. Analysts forecast that Intel Corporation will post -0.11 EPS for the current fiscal year.

About Intel

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.