Oak Asset Management LLC Has $1.58 Million Holdings in Intel Co. (NASDAQ:INTC)

Oak Asset Management LLC cut its stake in Intel Co. (NASDAQ:INTC - Free Report) by 41.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,560 shares of the chip maker's stock after selling 56,203 shares during the period. Oak Asset Management LLC's holdings in Intel were worth $1,575,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker's stock valued at $4,644,112,000 after acquiring an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Primecap Management Co. CA raised its holdings in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker's stock worth $2,410,166,000 after buying an additional 1,697,550 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker's stock worth $1,371,692,000 after buying an additional 12,865,308 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker's stock valued at $967,426,000 after buying an additional 9,422,136 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Benchmark reissued a "hold" rating on shares of Intel in a report on Friday, November 1st. Truist Financial lifted their price target on shares of Intel from $25.00 to $26.00 and gave the company a "hold" rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Intel from $27.00 to $25.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Intel in a research note on Friday, November 1st. Finally, The Goldman Sachs Group decreased their price target on Intel from $22.00 to $21.00 and set a "sell" rating on the stock in a research report on Thursday, October 17th. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $29.96.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm'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 transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares of the company's stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by company insiders.

Intel Price Performance

INTC remained flat at $19.20 during mid-day trading on Tuesday. 47,066,479 shares of the company's stock traded hands, compared to its average volume of 57,160,840. The business's fifty day simple moving average is $21.89 and its two-hundred day simple moving average is $23.49. The firm has a market cap of $82.81 billion, a price-to-earnings ratio of -5.16 and a beta of 1.07. Intel Co. has a 12 month low of $18.51 and a 12 month high of $50.30. 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 (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $13.02 billion. During the same period in the previous year, the business posted $0.28 EPS. The business's quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Intel 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.