Nordea Investment Management AB has reduced its stake in Intel Co. by 2.9% during the first quarter, selling 31,763 shares and bringing its total stake to 1,069,834 shares worth $47,608,000 according to the latest filing with the Securities and Exchange Commission. Other hedge funds and institutional investors have also made changes to their positions in Intel, with 64.53% of the stock currently owned by institutional investors and hedge funds.
Wall Street analysts have different opinions on Intel, with some lowering their price targets on the stock recently. Three analysts have rated the stock as a sell, twenty-three as hold, and five as buy, with an average rating of “Hold” and an average price target of $39.58 according to MarketBeat.com.
Intel shares rose 6.2% recently, opening at $33.99 on Tuesday. The company reported quarterly earnings data on April 25th, with EPS of ($0.06) missing the consensus estimate of ($0.03) and revenue of $12.72 billion also falling short of analysts’ estimates. The company recently announced a quarterly dividend, paying $0.125 per share on June 1st.
CEO Patrick P. Gelsinger has been active in purchasing Intel stock, acquiring shares in multiple transactions in April and May. Currently, 0.04% of the shares are owned by company insiders.
Intel Corporation operates globally, designing, developing, manufacturing, and selling computing and related products and services through various segments like Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. The company’s product portfolio includes CPUs, chipsets, SoCs, FPGAs, and more.
In conclusion, Nordea Investment Management AB has reduced its stake in Intel Co., while other hedge funds and institutional investors have also made changes to their positions in the company. Wall Street analysts have mixed opinions on Intel, with recent price target adjustments. Intel shares have seen a recent increase, and CEO Patrick P. Gelsinger has been active in purchasing company stock. Intel Corporation remains a global leader in computing and related products and services.
Article Source
https://www.defenseworld.net/2024/07/09/nordea-investment-management-ab-has-47-61-million-stock-holdings-in-intel-co-nasdaqintc.html