Intel Co. (NASDAQ:INTC) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC - Free Report) by 88.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,642,083 shares of the chip maker's stock after selling 20,481,555 shares during the quarter. Parnassus Investments LLC owned 0.06% of Intel worth $61,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. purchased a new stake in shares of Intel in the second quarter valued at $2,178,000. Swiss National Bank grew its holdings in Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker's stock valued at $296,426,000 after purchasing an additional 31,800 shares during the last quarter. Fortis Group Advisors LLC raised its position in Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker's stock worth $4,058,000 after purchasing an additional 157,991 shares during the period. Mizuho Securities Co. Ltd. lifted its stake in Intel by 2,910.4% in the third quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker's stock worth $678,000 after purchasing an additional 27,940 shares during the last quarter. Finally, Private Advisory Group LLC purchased a new position in shares of Intel during the third quarter valued at approximately $8,045,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Robert W. Baird raised their price target on Intel from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Raymond James downgraded Intel from an "outperform" rating to a "market perform" rating in a research report on Friday, August 2nd. Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, November 1st. Daiwa America upgraded shares of Intel to a "hold" rating in a report on Monday, August 26th. Finally, Roth Mkm dropped their target price on shares of Intel from $35.00 to $25.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Six equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $30.12.

Insiders Place Their Bets

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

Intel Stock Down 2.6 %

Shares of INTC stock traded down $0.64 during trading hours on Tuesday, reaching $24.20. 57,390,552 shares of the company's stock were exchanged, compared to its average volume of 60,048,730. The stock has a market cap of $104.37 billion, a PE ratio of -6.54 and a beta of 1.03. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The stock's fifty day moving average price is $22.80 and its two-hundred day moving average price is $26.26. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

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 company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company's revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. Research analysts predict that Intel Co. will post -0.83 EPS 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.