Intel Corporation $INTC Shares Bought by Summit Global Investments

Summit Global Investments grew its holdings in Intel Corporation (NASDAQ:INTC) by 109.3% in the 3rd quarter, Holdings Channel reports. The fund owned 25,916 shares of the chip maker’s stock after purchasing an additional 13,533 shares during the quarter. Summit Global Investments’ holdings in Intel were worth $3,116,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Primecap Management Co. CA acquired a new stake in shares of Intel in the 2nd quarter valued at about $10,507,291,000. Legal & General Group Plc acquired a new stake in shares of Intel in the 2nd quarter valued at approximately $4,096,110,000. Assenagon Asset Management S.A. boosted its holdings in shares of Intel by 87.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 30,214,769 shares of the chip maker’s stock valued at $3,632,722,000 after buying an additional 14,063,302 shares during the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Intel in the second quarter valued at $1,848,438,000. Finally, Bank of America Corp DE grew its stake in shares of 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 buying an additional 8,342,514 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Key Stories Impacting Intel

Here are the key news stories impacting Intel this week:

• Positive Sentiment: Intel exceeded third-quarter expectations, reporting adjusted earnings of $0.52 per share versus a roughly $0.41 consensus estimate. Revenue increased 21% year over year to approximately $16.5 billion. Intel third-quarter earnings report
• Positive Sentiment: Data Center and AI revenue rose 78% to $7.3 billion, while Intel Foundry revenue increased 58% to $6.7 billion. CEO Lip-Bu Tan also highlighted the potential for AI agents to expand the server CPU market. Intel server and AI revenue coverage
• Neutral Sentiment: Intel agreed to acquire Israeli quantum software company Classiq Technologies for about $2.3 billion, seeking to build a full-stack quantum-computing business. The deal may provide a long-term growth option but adds to near-term spending and execution demands. Intel Classiq acquisition
• Negative Sentiment: Fourth-quarter guidance was well below Wall Street expectations: revenue is projected at $15 billion-$16 billion, versus approximately $17.1 billion expected, with adjusted earnings of about $0.25 per share versus roughly $0.45 expected. Management said the PC slowdown could persist through at least the first half of 2027. Reuters Intel outlook report
• Negative Sentiment: Memory shortages and higher component prices are making PCs more expensive, while Intel expects client-computing revenue to weaken. A blast at its Israel facility is expected to cause roughly $300 million-$600 million in revenue disruption, adding to manufacturing constraints. Intel PC slowdown and Israel facility report
• Negative Sentiment: Analysts responded with multiple downgrades and price-target reductions, citing weak PC demand, supply bottlenecks, lower margins, heavy foundry investment and the risk that Intel may not generate free cash flow in 2027. The outlook also triggered a broad semiconductor selloff, pressuring AMD, Nvidia, Broadcom and other chip stocks. Analyst reactions to Intel earnings

Insider Activity at Intel

In related news, CEO Lip Bu Tan purchased 105,263 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The stock was bought at an average price of $95.00 per share, with a total value of $9,999,985.00. Following the completion of the purchase, the chief executive officer owned 1,314,669 shares in the company, valued at approximately $124,893,555. This represents a 8.70% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.05% of the company’s stock.

Intel Trading Down 28.6%

NASDAQ INTC opened at $65.76 on Friday. The business’s fifty day moving average is $101.10 and its 200 day moving average is $86.36. Intel Corporation has a twelve month low of $32.89 and a twelve month high of $142.35. The company has a market cap of $331.69 billion, a price-to-earnings ratio of -27.29, a price-to-earnings-growth ratio of 6.98 and a beta of 2.22. The company has a quick ratio of 1.25, a current ratio of 1.60 and a debt-to-equity ratio of 0.47.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 29th. The chip maker reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.11. Intel had a positive return on equity of 4.55% and a negative net margin of 20.09%. The company had revenue of $16.51 billion for the quarter, compared to analysts’ expectations of $16.56 billion. During the same period in the previous year, the business posted $0.23 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. As a group, sell-side analysts expect that Intel Corporation will post 1.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INTC. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday. KeyCorp decreased their price target on shares of Intel from $155.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday. Stifel Nicolaus set a $90.00 price objective on Intel in a research note on Friday. Zacks Research raised shares of Intel from a “hold” rating to a “strong-buy” rating in a report on Monday, October 26th. Finally, Seaport Research Partners cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, twenty-seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $97.86.

Intel Profile

Intel Corporation (NASDAQ:INTC) is a global semiconductor company that designs and manufactures computing and connectivity products. Its portfolio includes Intel Core processors for personal computers, Xeon processors for data centers and enterprise systems, and products for networking, edge computing, graphics, and artificial intelligence workloads.

Through Intel Foundry, the company also provides semiconductor manufacturing and technology-development services for external customers. Intel develops process technologies, advanced packaging, and other manufacturing capabilities intended to support its own products and third-party chip designs.

Founded in 1968 by Robert Noyce and Gordon Moore, Intel helped establish the modern microprocessor industry and has historically supplied processors for PCs, servers, and other computing systems.