US Bancorp DE Cuts Stock Position in Intel Co. (NASDAQ:INTC)

US Bancorp DE lessened its position in Intel Co. (NASDAQ:INTC) by 13.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,245,145 shares of the chip maker’s stock after selling 503,885 shares during the quarter. US Bancorp DE’s holdings in Intel were worth $76,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of INTC. Capital International Investors grew its stake in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp grew its stake in Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares in the last quarter. Davis Selected Advisers grew its stake in Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. Caxton Associates LP acquired a new position in Intel during the 2nd quarter worth $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on INTC. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Truist Financial lowered their price objective on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Finally, Wedbush lowered their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.80.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Stock Down 3.5 %

INTC opened at $21.52 on Friday. The business has a 50 day moving average price of $21.74 and a two-hundred day moving average price of $27.12. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market cap of $92.02 billion, a PE ratio of 93.57 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period last year, the company posted ($0.05) earnings per share. As a group, research analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

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.