Peapack Gladstone Financial Corp Has $7.75 Million Stock Position in Intel Co. (NASDAQ:INTC)

Peapack Gladstone Financial Corp reduced its position in Intel Co. (NASDAQ:INTC) by 27.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 330,553 shares of the chip maker’s stock after selling 123,577 shares during the period. Peapack Gladstone Financial Corp’s holdings in Intel were worth $7,754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp grew its stake in shares of Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Intel by 28.2% in the third 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 during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after acquiring an additional 7,207,785 shares during the last quarter. Davis Selected Advisers grew its position in Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

Shares of INTC stock opened at $20.34 on Friday. The company has a market capitalization of $87.73 billion, a P/E ratio of -5.47 and a beta of 1.05. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock has a 50 day moving average of $23.12 and a two-hundred day moving average of $25.23.

Intel (NASDAQ:INTC) last issued 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 return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. As a group, equities analysts expect that Intel Co. will post -0.87 EPS for the current year.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on INTC. Northland Securities reduced their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Mizuho boosted their target price on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.04.

About Intel

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.