Biltmore Family Office LLC Increases Stock Position in Intel Co. (NASDAQ:INTC)

Biltmore Family Office LLC raised its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,502 shares of the chip maker’s stock after purchasing an additional 670 shares during the period. Biltmore Family Office LLC’s holdings in Intel were worth $270,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Primecap Management Co. CA increased its holdings in 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 buying an additional 1,697,550 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after acquiring an additional 9,422,136 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after acquiring an additional 2,457,243 shares during the period. Legal & General Group Plc raised its holdings in shares of Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in 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 valued at $743,457,000 after purchasing an additional 2,248,332 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’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 sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was 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 company insiders.

Intel Trading Up 1.7 %

Intel stock opened at $24.43 on Friday. 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 firm’s 50 day moving average price is $23.10 and its 200-day moving average price is $26.19. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The stock has a market cap of $105.35 billion, a P/E ratio of -6.57 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings results 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 during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $0.28 EPS. On average, equities analysts predict that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have commented on INTC. Susquehanna cut their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.