Keynote Financial Services Increases Intel Stake by 7.8%

Keynote Financial Services LLC has enhanced its investment in Intel Corporation, raising its stake by 7.8% during the second quarter of 2023. According to a recent filing with the Securities and Exchange Commission, the firm now holds 88,639 shares of the chip manufacturer after acquiring an additional 6,412 shares during this period. Intel represents approximately 1.3% of Keynote’s overall portfolio, making it the firm’s 16th largest holding. At the close of the quarter, Keynote’s holdings in Intel were valued at around $1,986,000.

Several other institutional investors have also recently adjusted their positions in Intel. Envestnet Asset Management Inc. increased its stake by 19.7% in the first quarter, bringing its total to 953,590 shares, worth approximately $21,656,000. Diversify Wealth Management LLC expanded its position by 34.2%, owning 14,422 shares valued at $328,000 after purchasing an additional 3,678 shares. Ballentine Partners LLC notably raised its stake by 71.8%, now holding 55,835 shares valued at $1,268,000. Additionally, Kathmere Capital Management LLC entered a new position worth around $230,000, and Schechter Investment Advisors LLC increased its stake by 13.1%, now owning 22,779 shares valued at $517,000. Overall, institutional investors and hedge funds control 64.53% of Intel’s stock.

Intel’s stock opened at $38.45 on Tuesday. The company has experienced a 52-week range with a low of $17.67 and a high of $42.48. Financial metrics indicate a quick ratio of 1.25, a current ratio of 1.60, and a debt-to-equity ratio of 0.38. The stock has a fifty-day simple moving average of $33.64 and a two-hundred-day simple moving average of $25.91. With a market capitalization of $168.30 billion, Intel’s price-to-earnings (P/E) ratio stands at 3,848.85, and its beta is 1.31.

Market Analyst Insights

Recent commentary from various financial research firms reflects a mix of opinions regarding Intel’s stock. On October 24, 2023, Wells Fargo & Company raised its price target for Intel from $30.00 to $45.00, maintaining an “equal weight” rating. Citigroup reiterated a “sell” rating, increasing its target price to $29.00, up from $24.00. Stifel Nicolaus also raised its price target from $21.00 to $24.50, while HSBC Global Research downgraded Intel from a “hold” to a “moderate sell” rating. Deutsche Bank Aktiengesellschaft increased its target from $30.00 to $35.00, retaining a “hold” rating.

Currently, two equities research analysts have rated Intel with a Buy rating, while twenty-three analysts have issued Hold ratings, and eight have given it a Sell rating. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $34.84.

Intel Corporation, headquartered in Santa Clara, California, designs, develops, manufactures, markets, and sells a wide range of computing and related products and services globally. The company operates through various segments, including Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services. Its product offerings encompass central processing units (CPUs), chipsets, system-on-chips (SoCs), graphics processing units (GPUs), and other semiconductor products.

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