American Assets Investment Management LLC Sells 50,000 Shares of Intel Co. (NASDAQ:INTC)

American Assets Investment Management LLC decreased its holdings in Intel Co. (NASDAQ:INTC) by 50.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 50,000 shares of the chip maker’s stock after selling 50,000 shares during the quarter. American Assets Investment Management LLC’s holdings in Intel were worth $1,173,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Capital International Investors boosted its position in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after acquiring an additional 13,035,566 shares during the period. Davis Selected Advisers boosted its holdings in Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Caxton Associates LP acquired a new stake in Intel in the second quarter worth about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of several analyst reports. 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 report on Friday, November 1st. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Morgan Stanley reduced their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, The Goldman Sachs Group reduced their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel Stock Down 4.5 %

INTC traded down $1.13 during trading hours on Tuesday, hitting $23.92. 21,075,408 shares of the company’s stock were exchanged, compared to its average volume of 59,953,918. 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 Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The stock’s 50-day moving average is $22.28 and its two-hundred day moving average is $26.48. The stock has a market cap of $103.17 billion, a price-to-earnings ratio of -6.51 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 EPS. Intel’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts predict that Intel Co. will post -0.83 earnings per share for the current fiscal 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.