Investment Management Corp of Ontario Purchases 46,500 Shares of Intel Co. (NASDAQ:INTC)

Investment Management Corp of Ontario lifted its holdings in Intel Co. (NASDAQ:INTC) by 49.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,299 shares of the chip maker’s stock after acquiring an additional 46,500 shares during the period. Investment Management Corp of Ontario’s holdings in Intel were worth $3,315,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. William B. Walkup & Associates Inc. acquired a new position in Intel in the second quarter valued at approximately $2,178,000. Swiss National Bank increased its stake in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after acquiring an additional 31,800 shares in the last quarter. Fortis Group Advisors LLC lifted its position in shares of Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after acquiring an additional 157,991 shares during the period. Mizuho Securities Co. Ltd. boosted its stake in Intel by 2,910.4% during the third quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock worth $678,000 after acquiring an additional 27,940 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its holdings in Intel by 104.9% in the third quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock worth $1,427,000 after purchasing an additional 31,143 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of research analyst reports. The Goldman Sachs Group cut their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Truist Financial increased their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Mizuho upped their target price on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, TD Cowen upgraded shares of Intel to a “hold” rating in a research note on Monday, September 16th. Six investment 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Stock Down 6.1 %

INTC opened at $22.47 on Wednesday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company’s 50-day moving average price is $23.50 and its two-hundred day moving average price is $25.73. The stock has a market cap of $96.91 billion, a price-to-earnings ratio of -6.04 and a beta of 1.05. 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 (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS 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 firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the company posted $0.28 EPS. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts expect that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In other Intel 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 transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.04% of the stock is currently owned by insiders.

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.