Harbor Capital Advisors Increases Stake in Intel Co.

Harbor Capital Advisors Inc. has increased its investment in Intel Co. (NASDAQ:INTC) by 6.3% during the third quarter of this year, according to reports from HoldingsChannel.com. Following this acquisition, the firm now holds a total of 55,271 shares of the semiconductor company's stock, having purchased an additional 3,272 shares in the recent quarter. As reported in their latest filing with the Securities & Exchange Commission, these holdings are valued at approximately $1,297,000.

In addition to Harbor Capital Advisors, several other institutional investors and hedge funds have adjusted their positions in Intel recently. For instance, William B. Walkup & Associates Inc. established a new position in Intel during the second quarter, investing $2,178,000. Meanwhile, Fortis Group Advisors LLC significantly increased its holdings by 1,052.9% in the third quarter, bringing its total to 172,996 shares worth about $4,058,000, after acquiring 157,991 additional shares. Additionally, Private Advisory Group LLC invested $8,045,000 by purchasing a new stake in Intel during the same period.

Furthermore, Sanibel Captiva Trust Company Inc. raised its stake in Intel by 21.1%, now owning 279,591 shares valued at $6,559,000 after buying an additional 48,765 shares. Forsta AP Fonden also increased its position in Intel by 4.6%, owning a total of 949,146 shares worth $22,267,000 after acquiring 41,900 shares during this quarter. It is noteworthy that institutional investors and hedge funds combined hold approximately 64.53% of Intel's stock.

Reactions from Analysts

Several analysts have shared their views on Intel’s stock. Goldman Sachs Group reduced their price target for Intel shares from $22.00 to $21.00 while maintaining a “sell” rating. On October 25th, Stifel Nicolaus kept a “hold” rating, lowering their price objective from $28.00 to $25.00. Truist Financial, however, increased their target price from $25.00 to $26.00 and also issued a “hold” rating on November 1st. Roth MKM reduced Intel's price target to $25.00 from $35.00, designating it with a “neutral” rating. Additionally, Bank of America downgraded Intel from a “neutral” to an “underperform” rating and cut their price target from $35.00 to $23.00. The overall sentiment from research analysts shows a mix of ratings with six analysts recommending to sell, twenty-five advising to hold, and one suggesting to buy. MarketBeat.com data indicates an average rating of “Hold” and a mean target price of $30.12 for Intel shares.

Intel’s Stock Performance

On Wednesday, shares of NASDAQ:INTC opened at $23.32. The company's 50-day moving average stands at $21.90, and the 200-day moving average is $26.73. Intel has experienced fluctuations throughout the year, with a low of $18.51 and a high reaching $51.28. Intel Corp. currently boasts a market capitalization of $99.72 billion, while its price-to-earnings ratio is reported at -6.27 alongside a beta of 1.03. The company maintains a debt-to-equity ratio of 0.44, a current ratio of 1.31, and a quick ratio of 0.97.

Recently, Intel reported its quarterly earnings on October 31. For the last quarter, the company announced an earnings loss of ($0.46) per share, missing the consensus estimate of ($0.02) by ($0.44). Intel reported a negative return on equity of 1.71% and a net margin of -29.42%. During the quarter, the company earned $13.30 billion in revenue, surpassing analysts' expectations of $13.02 billion. However, this quarterly revenue mark showed a 6.3% decrease compared to the same quarter last year. Analysts forecast that Intel will post an earnings loss of -0.47 per share for the current fiscal year.

Understanding Intel Corporation

Intel Corporation is a multinational company that designs, develops, manufactures, markets, and sells computing and related products and services across the globe. Its business operates through various segments, including Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. Intel's diverse product portfolio encompasses central processing units and chipsets, system-on-chips (SoCs), multichip packages; mobile and desktop processors; and hardware products that incorporate graphics processing units (GPUs), domain-specific accelerators, and field-programmable gate arrays (FPGAs). Additionally, it provides memory, storage, connectivity, networking, and other semiconductor products.

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