CIBC Asset Management Inc Raises Stock Holdings in Intel Co. (NASDAQ:INTC)

CIBC Asset Management Inc raised its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,324,899 shares of the chip maker’s stock after acquiring an additional 76,855 shares during the period. CIBC Asset Management Inc’s holdings in Intel were worth $31,082,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Capital International Investors grew its stake in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Primecap Management Co. CA raised its position in shares of Intel by 2.2% during 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 purchasing an additional 1,697,550 shares during the last quarter. Van ECK Associates Corp lifted its position 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 valued at $967,426,000 after acquiring an additional 9,422,136 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Intel by 6.6% during the 1st 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 purchasing an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after acquiring an additional 487,191 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Down 2.7 %

Intel stock opened at $24.35 on Friday. The stock’s 50 day moving average price is $22.58 and its 200 day moving average price is $26.41. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The company has a market cap of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last issued its 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 for 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%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, sell-side analysts predict that Intel Co. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent research reports. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Susquehanna reduced their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Barclays lowered their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Cantor Fitzgerald dropped their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.12.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Intel Company 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.