Kovitz Investment Group Partners LLC Grows Position in Intel Co. (NASDAQ:INTC)

Kovitz Investment Group Partners LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC - Free Report) by 40.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 611,173 shares of the chip maker's stock after buying an additional 174,995 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Intel were worth $13,293,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wahed Invest LLC increased its stake in Intel by 9.9% in the 3rd quarter. Wahed Invest LLC now owns 103,519 shares of the chip maker's stock worth $2,429,000 after buying an additional 9,286 shares during the period. Weaver Consulting Group raised its stake in shares of Intel by 22.2% during the third quarter. Weaver Consulting Group now owns 14,046 shares of the chip maker's stock valued at $330,000 after acquiring an additional 2,554 shares in the last quarter. Weiss Asset Management LP purchased a new stake in shares of Intel in the 3rd quarter worth $3,725,000. State Street Corp raised its holdings in shares of Intel by 2.8% in the third 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. Finally, Sassicaia Capital Advisers LLC purchased a new stake in Intel in the third quarter worth about $469,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INTC. Truist Financial raised 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. Northland Securities reduced their price objective on shares of Intel from $42.00 to $28.00 and set an "outperform" rating for the company in a research note on Friday, November 1st. Bank of America reaffirmed an "underperform" rating and set a $21.00 target price on shares of Intel in a research report on Tuesday. Daiwa America upgraded Intel to a "hold" rating in a report on Monday, August 26th. Finally, StockNews.com cut Intel from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. Six equities research 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.com, the stock presently has an average rating of "Hold" and a consensus target price of $30.04.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by insiders.

Intel Price Performance

Shares of INTC stock traded up $0.12 during mid-day trading on Friday, hitting $20.92. 78,235,227 shares of the stock were exchanged, compared to its average volume of 69,731,120. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $90.23 billion, a PE ratio of -5.62 and a beta of 1.05. The firm has a fifty day moving average of $23.34 and a 200 day moving average of $25.55.

Intel (NASDAQ:INTC - Get Free Report) last issued 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). The business had revenue of $13.30 billion for the quarter, compared to analysts' expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 EPS. Research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current 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.