The Vanguard Group, Inc. recently announced the acquisition of new stake in Intel Corp. (NASDAQ:INTC). The institutional investor has increased its shareholding in the Technology company by 0.57% to 363.84 million shares with purchase of 2.08 million shares. This fresh investment now brings its stake to 8.63% valued currently at $16.26 billion. In addition, BlackRock Fund Advisors raised its holdings by 5441.0 to 214.78 million shares. And Capital Research & Management Co has lifted its position by 33.84% or 24.35 million shares – to 96.3 million shares.
With over 29.94 million Intel Corp. (INTC) shares trading Friday and a closing price of $48.00 on the day, the dollar volume was approximately $1.44 billion. The shares have shown a positive half year performance of 43.97% and its price on 12/22/23 gained nearly 1.95%. Currently, there are 4.22B common shares owned by the public and among those 4.21B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 42 analysts who have offered their price forecasts for INTC have a consensus price objective of $39.66. The analysts have set the share’s price value over the next 12 months at a high of $68.00 and a low of $17.00. The average price target is -21.03% below its recent price level and a downside to the estimated low will see the stock lose -182.35% over that period. But an upside of 29.41% will see the stock hit the forecast high price target while median target price for the stock is $38.00.
Insiders at the company have transacted a total of 134 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 78 of these insider trades were purchases, accounting for 651,193 shares. Insider sales of the common stock occurred on 56 occasions, with total insider shares sold totaling 219,357 shares.
The top 3 mutual fund holders in Intel Corp. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 131.27 million shares of the company’s stock, all valued at over $5.87 billion. The company bought an additional 0.18 million shares recently to bring their total holdings to about 3.11% of the shares outstanding. Vanguard 500 Index Fund bought 0.48 million shares to see its total holdings expand to 101.13 million shares valued at over $4.52 billion and representing 2.40% of the shares outstanding. Invesco QQQ Trust sold -0.25 million shares to bring its total holdings to over 72.86 million shares at a value of $3.26 billion. Invesco QQQ Trust now owns shares totaling to 1.73% of the shares outstanding.
Shares of Intel Corp. (NASDAQ: INTC) opened at $47.25, up $0.17 from a prior closing price of $47.08. However, the script later moved the day high at 48.16, up 1.95%. The company’s stock has a 5-day price change of 3.99% and 39.98% over the past three months. INTC shares are trading 81.61% year to date (YTD), with the 12-month market performance up to 78.90% higher. It has a 12-month low price of $24.73 and touched a high of $47.27 over the same period. INTC has an average intraday trading volume of 37.88 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 8.39%, 18.77%, and 38.20% respectively.
Institutional ownership of Intel Corp. (NASDAQ: INTC) shares accounts for 63.86% of the company’s 4.22B shares outstanding. Mutual fund holders own 40.16%, while other institutional holders and individual stakeholders account for 5.23% and 24.29% respectively.
It has a market capitalization of $202.37B and a beta (3y monthly) value of 0.98. The earnings-per-share (ttm) stands at -$0.40. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.31% over the week and 2.64% over the month.
Analysts forecast that Intel Corp. (INTC) will achieve an EPS of $0.45 for the current quarter, $0.34 for the next quarter and $1.89 for 2024. The lowest estimate earnings-per-share for the quarter is $0.43 while analysts give the company a high EPS estimate of $0.54. Comparatively, EPS for the current quarter was $0.1 a year ago. Earnings per share for the fiscal year are expected to decrease by -48.88%, and 102.22% over the next financial year. EPS should grow at an annualized rate of 10.62% over the next five years, compared to -0.46% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 42 brokerage firm advisors rate Intel Corp. (INTC) as a “Moderate Buy” at a consensus score of 2.88. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 27 of the 42 advise that investors “hold,” and 5 rated it as a “Sell.”
Looking at the support for the INTC, a number of firms have released research notes about the stock. Deutsche Bank stated their Hold rating for the stock in a research note on December 18, 2023, with the firm’s price target at $38-$42.
