Evelyn Partners Investment Management LLP has significantly boosted its holdings in Intel Corporation (NASDAQ: INTC) by an astonishing 1,715.2% during the second quarter of 2023. The investment management firm now owns 29,315 shares of the semiconductor giant after acquiring an additional 27,700 shares in the same period, making its stake in Intel valued at approximately $657,000.
The increase in holdings comes amid similar moves from other institutional investors and hedge funds, indicating a growing interest in Intel’s stock. For instance, AXQ Capital LP established a new position in Intel worth $1,017,000 during the second quarter, while Journey Strategic Wealth LLC raised its stake by 207.9%, bringing its total to 37,191 shares valued at $833,000 after an additional purchase of 25,112 shares.
Neo Ivy Capital Management and DNB Asset Management AS also expanded their positions in Intel, with Neo Ivy boosting its stake by 1.3% to a total of 66,483 shares worth $1,489,000. Meanwhile, DNB Asset Management saw its holdings double, now owning 5,813,970 shares valued at $130,233,000 after acquiring an additional 2,915,302 shares.
Another notable increase came from Entropy Technologies LP, which raised its stake by 107.8%, now holding 142,687 shares valued at $3,196,000. Currently, institutional investors collectively own 64.53% of Intel’s stock.
Analysts Adjust Price Targets for Intel
Intel has recently attracted attention from analysts, with several firms adjusting their price targets for the stock. On October 24, Barclays raised its price objective from $25.00 to $35.00, maintaining an “equal weight” rating. Similarly, Deutsche Bank Aktiengesellschaft also lifted its target to $35.00 while offering a “hold” rating.
Other firms such as JPMorgan Chase & Co. and Wedbush have set their price objectives at $30.00 and $20.00 respectively. In total, two analysts have rated Intel as a Buy, twenty-four have assigned a Hold rating, and eight have issued Sell ratings. According to data from MarketBeat.com, Intel currently holds a consensus rating of “Reduce” with an average target price of $34.84.
Intel’s Recent Performance and Market Position
As of October 24, 2023, Intel’s stock opened at $34.50, reflecting a 2.6% increase. The stock has a 50-day simple moving average of $35.63 and a 200-day average of $26.79. Intel boasts a market capitalization of $164.81 billion and a P/E ratio of 3,453.45.
The company reported impressive earnings on October 23, announcing an earnings per share (EPS) of $0.23 for the quarter, exceeding analysts’ expectations of $13.10 billion in revenue, with actual revenue reaching $13.65 billion. This reflects a year-over-year revenue increase of 3.0%.
Intel’s financial outlook includes a guidance of $0.08 EPS for the fourth quarter of 2025, with analysts forecasting a projected EPS of -0.11 for the current year.
Intel Corporation, headquartered in Santa Clara, California, continues to design, develop, manufacture, and market a variety of computing and related products and services worldwide. The company operates through several segments, including Client Computing Group, Data Center and AI, Network and Edge, and others, with a diverse portfolio that includes central processing units (CPUs), graphics processing units (GPUs), and various other semiconductor products.
