Sumitomo Mitsui Trust Group Inc. Has $243.53 Million Stake in Intel Co. (NASDAQ:INTC)

Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Intel Co. (NASDAQ:INTC - Free Report) by 1.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,380,522 shares of the chip maker's stock after purchasing an additional 163,478 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Intel worth $243,527,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of INTC. TD Asset Management Inc raised its position in Intel by 1.5% in the 1st quarter. TD Asset Management Inc now owns 2,103,558 shares of the chip maker's stock valued at $92,914,000 after buying an additional 30,066 shares during the last quarter. TBH Global Asset Management LLC boosted its holdings in Intel by 23.2% during the first quarter. TBH Global Asset Management LLC now owns 10,232 shares of the chip maker's stock worth $452,000 after purchasing an additional 1,930 shares during the last quarter. Kingsview Wealth Management LLC grew its position in Intel by 577.0% in the first quarter. Kingsview Wealth Management LLC now owns 649,373 shares of the chip maker's stock valued at $28,683,000 after purchasing an additional 553,454 shares in the last quarter. Midwest Professional Planners LTD. increased its stake in Intel by 4.0% in the 1st quarter. Midwest Professional Planners LTD. now owns 46,402 shares of the chip maker's stock valued at $2,050,000 after buying an additional 1,772 shares during the last quarter. Finally, HBK Sorce Advisory LLC lifted its position in Intel by 1.1% during the 1st quarter. HBK Sorce Advisory LLC now owns 43,164 shares of the chip maker's stock worth $1,907,000 after buying an additional 470 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Benchmark reiterated a "hold" rating on shares of Intel in a report on Friday, November 1st. StockNews.com downgraded Intel from a "hold" rating to a "sell" rating in a report on Friday, August 9th. Bank of America downgraded shares of Intel from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Stifel Nicolaus reiterated a "hold" rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Finally, Morgan Stanley lowered their price objective on shares of Intel from $36.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Friday, August 2nd. Six 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 company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $30.12.

Intel Price Performance

Shares of INTC traded up $0.76 during trading hours on Wednesday, hitting $24.92. 58,086,445 shares of the company were exchanged, compared to its average volume of 60,133,629. The company has a market cap of $107.48 billion, a price-to-earnings ratio of -6.70 and a beta of 1.03. The firm's fifty day moving average is $22.36 and its 200 day moving average is $26.43. Intel Co. has a fifty-two week low of $18.51 and a fifty-two 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.

Intel (NASDAQ:INTC - Get Free Report) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel's quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. On average, equities analysts anticipate that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insider Activity 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 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 in the company, valued at approximately $7,104,708. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by 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.