Intel Co. (NASDAQ:INTC) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its position in Intel Co. (NASDAQ:INTC) by 0.7% in the 3rd quarter, Holdings Channel reports. The fund owned 77,267,112 shares of the chip maker’s stock after selling 555,475 shares during the period. Intel accounts for 1.3% of Primecap Management Co. CA’s holdings, making the stock its 19th biggest holding. Primecap Management Co. CA’s holdings in Intel were worth $1,812,686,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in INTC. Van ECK Associates Corp grew its holdings 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 valued at $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Intel by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after buying an additional 2,457,243 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after acquiring an additional 487,191 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Intel by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock worth $759,127,000 after acquiring an additional 656,583 shares during the last quarter. Finally, Capital World Investors lifted its stake in shares of Intel by 7.8% in the first quarter. Capital World Investors now owns 15,457,442 shares of the chip maker’s stock worth $682,755,000 after acquiring an additional 1,116,142 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the subject of several research analyst reports. Barclays dropped their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Susquehanna cut their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. The Goldman Sachs Group decreased their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Roth Mkm lowered their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, HSBC cut Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.12.

Intel Price Performance

Shares of Intel stock opened at $24.01 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The business has a 50-day simple moving average of $23.00 and a 200 day simple moving average of $26.20.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the business posted $0.28 EPS. Intel’s revenue was down 6.3% compared to the same quarter last year. As a group, analysts anticipate that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

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.