Principal Financial Group Inc. boosted its stake in shares of Intel Co. (NASDAQ:INTC – Free Report) by 4.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,827,123 shares of the chip maker’s stock after purchasing an additional 204,200 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of Intel worth $113,244,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. Geode Capital Management LLC grew its stake in shares of Intel by 4.6% during 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 purchasing an additional 4,103,553 shares during the period. Primecap Management Co. CA increased its holdings in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after purchasing an additional 1,697,550 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake 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 valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Finally, Van ECK Associates Corp lifted its stake 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 valued at $967,426,000 after purchasing an additional 9,422,136 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.
Intel Trading Up 2.4 %
Intel stock traded up $0.46 during midday trading on Friday, hitting $19.52. 106,943,578 shares of the stock were exchanged, compared to its average volume of 61,977,309. 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 market capitalization of $84.19 billion, a price-to-earnings ratio of -5.25 and a beta of 1.05. The stock’s 50-day simple moving average is $22.78 and its 200 day simple moving average is $24.82. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.
Intel (NASDAQ:INTC – Get Free Report) 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 firm had revenue of $13.30 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 EPS. On average, equities analysts anticipate that Intel Co. will post -0.87 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts have weighed in on the stock. Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. Northland Securities cut their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Bank of America reissued an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.04.
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.