Empowered Funds LLC Raises Stake in Intel Co. (NASDAQ:INTC)

Empowered Funds LLC grew its position in Intel Co. (NASDAQ:INTC) by 21.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 454,788 shares of the chip maker’s stock after purchasing an additional 79,169 shares during the quarter. Empowered Funds LLC’s holdings in Intel were worth $10,669,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. Orion Portfolio Solutions LLC grew its holdings in Intel by 1.9% during the 1st quarter. Orion Portfolio Solutions LLC now owns 100,220 shares of the chip maker’s stock valued at $4,427,000 after buying an additional 1,900 shares in the last quarter. Intech Investment Management LLC increased its holdings in Intel by 22.2% in the 1st quarter. Intech Investment Management LLC now owns 132,031 shares of the chip maker’s stock valued at $5,832,000 after acquiring an additional 23,992 shares during the last quarter. Spirepoint Private Client LLC bought a new stake in Intel in the 1st quarter valued at $355,000. TIAA Trust National Association lifted its stake in Intel by 3.6% in the 1st quarter. TIAA Trust National Association now owns 251,066 shares of the chip maker’s stock worth $11,090,000 after purchasing an additional 8,809 shares in the last quarter. Finally, Patten & Patten Inc. TN grew its position in shares of Intel by 9.3% during the first quarter. Patten & Patten Inc. TN now owns 123,276 shares of the chip maker’s stock valued at $5,445,000 after purchasing an additional 10,520 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Truist Financial lifted their price objective on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Mizuho boosted their price objective on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and cut their target price for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald lowered their price target on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research 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 issued a buy rating to the company. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average target price of $30.12.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on 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 directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is currently owned by company insiders.

Intel Stock Performance

INTC stock opened at $24.35 on Friday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a market cap of $105.02 billion, a price-to-earnings ratio of -6.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a 50-day simple moving average of $22.69 and a two-hundred day simple moving average of $26.36.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Intel Co. will post -0.83 EPS 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.