Principal Financial Group Inc. Grows Stock Holdings in Intel Co. (NASDAQ:INTC)

Principal Financial Group Inc. boosted its position in shares of Intel Co. (NASDAQ:INTC - Free Report) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,827,123 shares of the chip maker's stock after buying an additional 204,200 shares during the period. Principal Financial Group Inc. owned 0.11% of Intel worth $113,244,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Family Firm Inc. purchased a new position in Intel in the 2nd quarter worth approximately $80,000. Institute for Wealth Management LLC. boosted its holdings in Intel by 43.6% in the 2nd quarter. Institute for Wealth Management LLC. now owns 18,732 shares of the chip maker's stock valued at $580,000 after purchasing an additional 5,691 shares during the last quarter. Calamos Wealth Management LLC grew its stake in shares of Intel by 10.0% in the 2nd quarter. Calamos Wealth Management LLC now owns 31,816 shares of the chip maker's stock valued at $985,000 after buying an additional 2,900 shares during the period. Tempus Wealth Planning LLC raised its position in shares of Intel by 20.4% during the 2nd quarter. Tempus Wealth Planning LLC now owns 10,508 shares of the chip maker's stock valued at $325,000 after buying an additional 1,781 shares during the period. Finally, AMG National Trust Bank lifted its holdings in Intel by 8.4% in the second quarter. AMG National Trust Bank now owns 49,056 shares of the chip maker's stock valued at $1,519,000 after acquiring an additional 3,795 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INTC. Stifel Nicolaus reissued a "hold" rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Bank of America reissued an "underperform" rating and set a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Benchmark reiterated a "hold" rating on shares of Intel in a research report on Friday, November 1st. Mizuho upped their price objective on shares of Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Finally, Rosenblatt Securities reiterated a "sell" rating and issued a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. Six investment 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 data from MarketBeat.com, Intel currently has an average rating of "Hold" and an average price target of $30.04.

Intel Trading Up 2.4 %

NASDAQ INTC traded up $0.46 during mid-day trading on Friday, reaching $19.52. 106,943,578 shares of the stock were exchanged, compared to its average volume of 61,977,309. The stock has a market capitalization of $84.19 billion, a PE ratio of -5.25 and a beta of 1.05. 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 1-year low of $18.51 and a 1-year high of $51.28. The business's fifty day simple moving average is $22.78 and its 200 day simple moving average is $24.82.

Intel (NASDAQ:INTC - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. On average, research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.04% of the stock is 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.