Intel Co. (NASDAQ:INTC) Shares Sold by Fmr LLC

Fmr LLC lowered its stake in Intel Co. (NASDAQ:INTC) by 25.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,635,957 shares of the chip maker’s stock after selling 1,943,026 shares during the quarter. Fmr LLC owned about 0.13% of Intel worth $132,220,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Primecap Management Co. CA lifted its holdings in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares during the last quarter. Van ECK Associates Corp raised its position in Intel by 27.2% in 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 during the period. Legal & General Group Plc lifted its stake in Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after buying an additional 2,248,332 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Intel by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock valued at $759,127,000 after buying an additional 656,583 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.

Intel Trading Down 6.1 %

INTC opened at $22.47 on Wednesday. The business’s 50 day moving average is $23.50 and its two-hundred day moving average is $25.73. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The firm has a market cap of $96.91 billion, a price-to-earnings ratio of -6.04 and a beta of 1.05. 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 (NASDAQ:INTC) last posted its quarterly earnings data 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 company had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. On average, research analysts predict that Intel Co. will post -0.87 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Mizuho raised their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Robert W. Baird lifted their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Truist Financial upped their target price on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Bank of America reissued an “underperform” rating and issued a $21.00 price target on shares of Intel in a research report on Tuesday. Finally, Daiwa America raised Intel to a “hold” rating in a research report on Monday, August 26th. Six research 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 has a consensus rating of “Hold” and a consensus target price of $30.04.

Intel Company 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.