SageView Advisory Group LLC Trims Stock Position in Intel Co. (NASDAQ:INTC)

SageView Advisory Group LLC trimmed its position in Intel Co. (NASDAQ:INTC) by 37.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,345 shares of the chip maker’s stock after selling 5,642 shares during the quarter. SageView Advisory Group LLC’s holdings in Intel were worth $219,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp grew its position in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares during the period. Davis Selected Advisers increased its position in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares during the last quarter. Finally, Caxton Associates LP purchased a new stake in Intel in the 2nd quarter valued at about $162,592,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on INTC. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Truist Financial increased their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Northland Securities dropped their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $30.04.

Intel Stock Up 0.6 %

Intel stock opened at $20.92 on Friday. The stock has a market cap of $90.23 billion, a PE ratio of -5.62 and a beta of 1.05. 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 is $23.34 and its two-hundred day moving average is $25.55. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion for 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%. Intel’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. On average, sell-side analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated 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. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

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.