Everett Harris & Co. CA Cuts Stake in Intel Co. (NASDAQ:INTC)

Everett Harris & Co. CA lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 17.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,306 shares of the chip maker’s stock after selling 10,420 shares during the period. Everett Harris & Co. CA’s holdings in Intel were worth $989,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. grew its stake in shares of Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after acquiring an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of 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 buying an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in shares of Intel by 224.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after acquiring an additional 7,207,785 shares during the period. Finally, State Street Corp lifted its position in Intel by 2.8% during the 3rd 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. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

Intel stock opened at $19.43 on Friday. The company’s 50 day moving average is $20.88 and its two-hundred day moving average is $22.62. The firm has a market cap of $83.80 billion, a PE ratio of -5.22, a price-to-earnings-growth ratio of 9.64 and a beta of 1.07. 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 52-week low of $18.51 and a 52-week high of $46.63.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. On average, research analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on INTC shares. Robert W. Baird upped their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday. Wells Fargo & Company lowered their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday. Northland Securities cut their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $26.60.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.04% of the company’s stock.

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.