Intel Co. (NASDAQ:INTC) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lowered its position in shares of Intel Co. (NASDAQ:INTC) by 49.6% in the third quarter, HoldingsChannel.com reports. The fund owned 48,461 shares of the chip maker’s stock after selling 47,629 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Intel were worth $1,137,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of INTC. Primecap Management Co. CA boosted its position in Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the last quarter. Van ECK Associates Corp lifted its stake in Intel by 27.2% during the 3rd 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 during the period. Legal & General Group Plc boosted its holdings in shares of 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. Charles Schwab Investment Management Inc. raised its holdings in shares of Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after purchasing an additional 2,248,332 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Intel by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock valued at $759,127,000 after purchasing an additional 656,583 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent research reports. Susquehanna reduced their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wedbush reduced their price target on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Roth Mkm lowered their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Mizuho raised their price objective on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Daiwa America upgraded shares of Intel to a “hold” rating in a research note on Monday, August 26th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

NASDAQ:INTC opened at $24.05 on Wednesday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The stock has a market cap of $103.73 billion, a PE ratio of -6.47 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 stock has a 50 day moving average price of $23.32 and a 200 day moving average price of $26.00.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. Equities research analysts expect that Intel Co. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is 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.