BNP PARIBAS ASSET MANAGEMENT Holding S.A. Lowers Holdings in Intel Co. (NASDAQ:INTC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. trimmed its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 32.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,338,792 shares of the chip maker's stock after selling 2,521,794 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.12% of Intel worth $125,248,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp grew its holdings in Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker's stock valued at $1,071,308,000 after buying an additional 13,035,566 shares in the last quarter. Davis Selected Advisers boosted its position in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker's stock valued at $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Caxton Associates LP purchased a new position in shares of Intel in the second quarter valued at $162,592,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker's stock worth $137,251,000 after purchasing an additional 4,272,395 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Intel during the first quarter valued at $164,002,000. Institutional investors own 64.53% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INTC. Mizuho lifted their price objective on shares of Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. New Street Research cut Intel from a "buy" rating to a "neutral" rating in a research note on Friday, August 2nd. Susquehanna decreased their price objective on Intel from $35.00 to $26.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. Stifel Nicolaus reiterated a "hold" rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, Cantor Fitzgerald decreased their price target on Intel from $40.00 to $27.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $30.12.

Intel Stock Down 0.8 %

Shares of NASDAQ:INTC opened at $24.01 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The business has a 50 day moving average of $23.00 and a two-hundred day moving average of $26.20.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion during the quarter, compared to analysts' expectations of $13.02 billion. During the same period in the previous year, the firm posted $0.28 EPS. The firm's quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts expect that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares of the company's stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Intel Company Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.

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