Intel Co. (NASDAQ:INTC) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Intel Co. (NASDAQ:INTC - Free Report) by 6.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,324,899 shares of the chip maker's stock after purchasing an additional 76,855 shares during the quarter. CIBC Asset Management Inc's holdings in Intel were worth $31,082,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. America First Investment Advisors LLC purchased a new position in shares of Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC bought a new position in Intel in the second quarter worth $27,000. Spartan Fund Management Inc. purchased a new position in Intel during the second quarter valued at $31,000. Financial Connections Group Inc. bought a new stake in shares of Intel during the 2nd quarter valued at $32,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Intel during the 2nd quarter valued at $33,000. Institutional investors own 64.53% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on INTC shares. Rosenblatt Securities reissued a "sell" rating and set a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Robert W. Baird boosted their price target on Intel from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Roth Mkm reduced their price objective on Intel from $35.00 to $25.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on Intel from $35.00 to $26.00 and set an "underweight" rating for the company in a research note on Friday, August 2nd. Finally, New Street Research cut Intel from a "buy" rating to a "neutral" rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $30.12.

Intel Stock Down 2.7 %

Shares of NASDAQ:INTC traded down $0.68 on Friday, hitting $24.35. 55,104,875 shares of the company's stock were exchanged, compared to its average volume of 60,061,836. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The company has a market capitalization of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm's 50-day moving average is $22.69 and its 200 day moving average is $26.36.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) 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 business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period last year, the company earned $0.28 earnings per share. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts predict that Intel Co. will post -0.83 EPS for the current year.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, November 7th. The stock was 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 in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is owned by corporate 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.