Traynor Capital Management Inc. Purchases 15,074 Shares of Intel Co. (NASDAQ:INTC)

Traynor Capital Management Inc. lifted its position in shares of Intel Co. (NASDAQ:INTC) by 128.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 26,840 shares of the chip maker’s stock after acquiring an additional 15,074 shares during the quarter. Traynor Capital Management Inc.’s holdings in Intel were worth $538,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its holdings in Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after acquiring an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Intel by 28.2% during 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 purchasing an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Intel by 27.2% during the third 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. Jacobs Levy Equity Management Inc. increased its holdings in Intel by 224.8% during 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 buying an additional 7,207,785 shares during the period. Finally, State Street Corp raised its stake in Intel by 2.8% in the third 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. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In other Intel 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 value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade 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 hyperlink. 0.04% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTC. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Robert W. Baird lifted their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday. UBS Group cut their price objective on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Barclays decreased their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $28.81.

Intel Trading Up 0.4 %

NASDAQ INTC opened at $21.86 on Thursday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $50.30. 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 simple moving average of $21.44 and a two-hundred day simple moving average of $23.13.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company 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 company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.28 earnings per share. As a group, equities research analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

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.