International Assets Investment Management LLC Sells 2,838,870 Shares of Intel Co. (NASDAQ:INTC)

International Assets Investment Management LLC trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 97.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,814 shares of the chip maker’s stock after selling 2,838,870 shares during the period. International Assets Investment Management LLC’s holdings in Intel were worth $1,715,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. State Street Corp raised its stake in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC increased its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Primecap Management Co. CA lifted its holdings in Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position 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 worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of 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 during the period. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective 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. Truist Financial lifted their price target 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. Northland Securities reduced their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Robert W. Baird boosted their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Mizuho lifted their price target on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six investment 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. According to MarketBeat, Intel currently has an average rating of “Hold” and an average target price of $30.04.

Intel Price Performance

Intel stock opened at $19.88 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The stock has a market cap of $85.74 billion, a price-to-earnings ratio of -5.34 and a beta of 1.07. The firm has a 50-day moving average of $22.15 and a two-hundred day moving average of $23.86. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30.

Intel (NASDAQ:INTC) last announced 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). 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 company earned $0.28 EPS. On average, research analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

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.