Swiss National Bank Purchases 31,800 Shares of Intel Co. (NASDAQ:INTC)

Swiss National Bank increased its position in shares of Intel Co. (NASDAQ:INTC) by 0.3% during the third quarter, HoldingsChannel.com reports. The firm owned 12,635,400 shares of the chip maker’s stock after buying an additional 31,800 shares during the period. Swiss National Bank’s holdings in Intel were worth $296,426,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Accent Capital Management LLC increased its position in shares of Intel by 415.1% during the third quarter. Accent Capital Management LLC now owns 9,529 shares of the chip maker’s stock valued at $224,000 after purchasing an additional 7,679 shares during the period. Frazier Financial Advisors LLC increased its position in shares of Intel by 1,097.8% during the third quarter. Frazier Financial Advisors LLC now owns 5,570 shares of the chip maker’s stock valued at $131,000 after purchasing an additional 5,105 shares during the period. Cassady Schiller Wealth Management LLC increased its position in shares of Intel by 72.6% during the third quarter. Cassady Schiller Wealth Management LLC now owns 2,406 shares of the chip maker’s stock valued at $56,000 after purchasing an additional 1,012 shares during the period. Beaton Management Co. Inc. grew its position in Intel by 2.2% in the third quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after acquiring an additional 500 shares during the period. Finally, Turtle Creek Wealth Advisors LLC grew its position in Intel by 7.1% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 13,404 shares of the chip maker’s stock valued at $314,000 after acquiring an additional 890 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred 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 SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Intel Stock Down 2.7 %

Shares of Intel stock opened at $24.35 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The business has a 50-day moving average of $22.69 and a two-hundred day moving average of $26.33.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 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 quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. Analysts anticipate that Intel Co. will post -0.83 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Wedbush lowered their price target on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.12.

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.