Empowered Funds LLC Has $10.67 Million Position in Intel Co. (NASDAQ:INTC)

Empowered Funds LLC raised its position in shares of Intel Co. (NASDAQ:INTC - Free Report) by 21.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 454,788 shares of the chip maker's stock after acquiring an additional 79,169 shares during the period. Empowered Funds LLC's holdings in Intel were worth $10,669,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. America First Investment Advisors LLC bought a new position in Intel during the second quarter worth $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the 2nd quarter worth $27,000. Spartan Fund Management Inc. bought a new position in shares of Intel during the 2nd quarter worth about $31,000. Financial Connections Group Inc. acquired a new position in shares of Intel during the second quarter valued at about $32,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Intel in the second quarter valued at about $33,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company's stock in a transaction that occurred 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. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

INTC has been the topic of several research reports. Morgan Stanley lowered their price target on Intel from $36.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Friday, August 2nd. Bank of America lowered Intel from a "neutral" rating to an "underperform" rating and cut their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. New Street Research downgraded shares of Intel from a "buy" rating to a "neutral" rating in a research note on Friday, August 2nd. Stifel Nicolaus restated a "hold" rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Finally, Truist Financial lifted their target price on shares of Intel from $25.00 to $26.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $30.12.

Intel Trading Down 2.7 %

NASDAQ:INTC traded down $0.68 on Friday, hitting $24.35. 55,104,875 shares of the stock were exchanged, compared to its average volume of 60,061,836. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The stock has a market capitalization of $105.02 billion, a price-to-earnings ratio of -6.55 and a beta of 1.03. The company's 50-day moving average price is $22.69 and its 200 day moving average price is $26.36.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings results 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 return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period last year, the firm earned $0.28 earnings per share. The company's quarterly revenue was down 6.3% on a year-over-year basis. On average, equities research analysts forecast that Intel Co. will post -0.83 earnings per share for the current year.

About Intel

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.