Weiss Asset Management LP Acquires Shares of 158,761 Intel Co. (NASDAQ:INTC)

Weiss Asset Management LP purchased a new position in Intel Co. (NASDAQ:INTC - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 158,761 shares of the chip maker's stock, valued at approximately $3,725,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its position in Intel by 2.8% during 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 during the period. Primecap Management Co. CA raised its stake 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 valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings 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 valued at $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp boosted its position in Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker's stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Finally, Legal & General Group Plc increased its holdings in Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker's stock valued at $1,161,779,000 after purchasing an additional 487,191 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business'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 owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.

Intel Stock Up 0.6 %

INTC traded up $0.12 during trading on Friday, reaching $20.92. 78,235,227 shares of the stock traded hands, compared to its average volume of 69,731,120. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The stock's 50-day simple moving average is $23.34 and its two-hundred day simple moving average is $25.55. 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 stock has a market cap of $90.23 billion, a price-to-earnings ratio of -5.62 and a beta of 1.05.

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 analysts' consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the company posted $0.28 EPS. The business's revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that Intel Co. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on INTC shares. Bank of America reaffirmed an "underperform" rating and set a $21.00 price target on shares of Intel in a research note on Tuesday. The Goldman Sachs Group cut their price target on Intel from $22.00 to $21.00 and set a "sell" rating on the stock in a research note on Thursday, October 17th. Stifel Nicolaus reiterated a "hold" rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Rosenblatt Securities reiterated a "sell" rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft cut their target price 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. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $30.04.

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.