Geode Capital Management LLC Buys 4,103,553 Shares of Intel Co. (NASDAQ:INTC)

Geode Capital Management LLC increased its stake in shares of Intel Co. (NASDAQ:INTC) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,510,098 shares of the chip maker’s stock after purchasing an additional 4,103,553 shares during the quarter. Geode Capital Management LLC owned about 2.14% of Intel worth $2,162,891,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. America First Investment Advisors LLC bought a new position in Intel in the 2nd quarter valued at $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the second quarter valued at $27,000. Quest Partners LLC boosted its holdings in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in Intel in the second quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new stake in Intel during the 2nd quarter worth about $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Six investment 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 company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.04.

Intel Trading Down 0.5 %

NASDAQ INTC opened at $20.81 on Tuesday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. 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 has a 50 day moving average of $23.29 and a 200-day moving average of $25.44. The company has a market cap of $89.75 billion, a PE ratio of -5.59 and a beta of 1.05.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm 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 business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 EPS. On average, equities research analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

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.