Meeder Asset Management Inc. Sells 156,255 Shares of Intel Co. (NASDAQ:INTC)

Meeder Asset Management Inc. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 82.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 33,096 shares of the chip maker’s stock after selling 156,255 shares during the period. Meeder Asset Management Inc.’s holdings in Intel were worth $776,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTC. Capital International Investors lifted its position in shares of Intel by 16.0% during the first 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 last quarter. Van ECK Associates Corp lifted its holdings in Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares in the last quarter. Davis Selected Advisers boosted its position in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares during the period. Caxton Associates LP bought a new position in Intel in the 2nd quarter worth about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Intel by 2,681.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after acquiring an additional 4,272,395 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Mizuho lifted their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Northland Securities lowered their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $30.12.

Intel Price Performance

NASDAQ INTC opened at $24.20 on Wednesday. The company has a market cap of $104.37 billion, a price-to-earnings ratio of -6.51 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. The stock’s fifty day moving average price is $22.91 and its 200 day moving average price is $26.21. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $13.02 billion. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts forecast that Intel Co. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’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 directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by insiders.

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.