SGL Investment Advisors Inc. bought a new stake in Intel Co. (NASDAQ:INTC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 94,491 shares of the chip maker's stock, valued at approximately $2,365,000.
Several other hedge funds also recently bought and sold shares of the company. William B. Walkup & Associates Inc. acquired a new stake in Intel during the 2nd quarter worth $2,178,000. Swiss National Bank increased its holdings in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker's stock worth $296,426,000 after acquiring an additional 31,800 shares in the last quarter. Fortis Group Advisors LLC raised its position in shares of Intel by 1,052.9% during the third 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 holdings in shares of Intel by 2,910.4% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker's stock valued at $678,000 after purchasing an additional 27,940 shares in the last quarter. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Intel by 35,983.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 32,836 shares of the chip maker's stock valued at $770,000 after purchasing an additional 32,745 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several brokerages have commented on INTC. Benchmark restated a "hold" rating on shares of Intel in a report on Friday, November 1st. Truist Financial boosted their price objective 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. Bank of America reaffirmed an "underperform" rating and issued a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Needham & Company LLC reissued a "hold" rating on shares of Intel in a research note on Friday, November 1st. Finally, Daiwa America raised Intel to a "hold" rating in a research report on Monday, August 26th. Six 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $30.04.
Read Our Latest Research Report on Intel
Insider Transactions at Intel
In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by insiders.
Intel Stock Performance
Intel stock traded up $0.12 during midday trading on Monday, hitting $20.92. The company's stock had a trading volume of 78,539,132 shares, compared to its average volume of 73,161,896. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The company has a market cap of $90.23 billion, a price-to-earnings ratio of -5.62 and a beta of 1.05. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The company has a 50-day moving average price of $23.34 and a two-hundred day moving average price of $25.51.
Intel (NASDAQ:INTC - Get Free Report) last released 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). The business had revenue of $13.30 billion during 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 firm's quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, sell-side analysts predict that Intel Co. will post -0.87 earnings per share for the current year.
Intel Company Profile
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Free Report)
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.
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