KMG Fiduciary Partners LLC, an institutional investor, increased its stake in Intel Co. by 31.4% during the first quarter, acquiring an additional 47,813 shares to reach a total of 199,907 shares valued at $8,830,000. Other hedge funds also made moves with INTC shares, including New Millennium Group LLC, Burkett Financial Services LLC, Frazier Financial Advisors LLC, Valued Wealth Advisors LLC, and Signature Resources Capital Management LLC.
Analysts have set new price targets for Intel, with varying ratings and targets. TD Cowen, Evercore ISI, Barclays, Stifel Nicolaus, and Bank of America all made adjustments to their price targets and ratings for the company. CEO Patrick Gelsinger made significant purchases of Intel shares in May, acquiring a total of 4,100 shares at an average cost of $30.29 per share. This brings his total holdings to 39,375 shares in the company.
The price performance of Intel saw it rise to $31.20 on Friday, with significant trading volume. The company’s financials, including revenue and earnings per share, were reported in April, with mixed results compared to analyst expectations. Intel also announced a quarterly dividend for shareholders.
Intel Corporation operates globally in the computing and related products and services industry, with various segments including Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. The company’s current market capitalization, price-to-earnings ratio, and other financial metrics were detailed in the report.
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