Harbor Investment Advisory LLC Lowers Stock Position in Intel Co. (NASDAQ:INTC)

Harbor Investment Advisory LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,251 shares of the chip maker’s stock after selling 1,975 shares during the period. Harbor Investment Advisory LLC’s holdings in Intel were worth $707,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of INTC. Assenagon Asset Management S.A. raised its position in Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after acquiring an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Intel by 28.2% during 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 worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp lifted its stake in Intel by 27.2% in 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 buying an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in 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 valued at $244,302,000 after buying an additional 7,207,785 shares during the last quarter. Finally, State Street Corp increased its position in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of a number of recent research reports. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. UBS Group cut their price target on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday. Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Bank of America restated an “underperform” rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, twenty-six 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 $28.81.

Intel Stock Performance

Intel stock opened at $21.77 on Wednesday. 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 firm’s fifty day moving average price is $21.48 and its 200 day moving average price is $23.20. The company has a market capitalization of $93.89 billion, a price-to-earnings ratio of -5.85, a price-to-earnings-growth ratio of 9.46 and a beta of 1.07. Intel Co. has a 12-month low of $18.51 and a 12-month high of $50.30.

Intel (NASDAQ:INTC) last released its quarterly 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the firm posted $0.28 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

About Intel

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.