Intel Co. (NASDAQ:INTC) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,280 shares of the chip maker’s stock after selling 1,205 shares during the quarter. Evanson Asset Management LLC’s holdings in Intel were worth $266,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. State Street Corp boosted its position in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Intel by 28.2% in 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 worth $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after buying an additional 487,191 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Truist Financial upped their target price on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. The Goldman Sachs Group reduced their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $29.88.

Intel Stock Up 9.3 %

INTC opened at $21.49 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30. The firm has a 50 day moving average price of $21.55 and a 200 day moving average price of $23.27. The company has a market cap of $92.69 billion, a PE ratio of -5.78, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period last year, the business earned $0.28 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is 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.