Canada Pension Plan Investment Board Sells 1,401,543 Shares of Intel Co. (NASDAQ:INTC)

Canada Pension Plan Investment Board reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 55.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,113,167 shares of the chip maker’s stock after selling 1,401,543 shares during the period. Canada Pension Plan Investment Board’s holdings in Intel were worth $49,169,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of INTC. Norges Bank acquired a new stake in Intel during the 4th quarter worth about $2,424,202,000. Price T Rowe Associates Inc. MD grew its holdings in Intel by 543.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after acquiring an additional 31,575,084 shares during the period. Capital International Investors grew its holdings in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares during the period. California Public Employees Retirement System grew its holdings in Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after acquiring an additional 8,140,835 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Intel by 44.8% during the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after acquiring an additional 6,673,086 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTC. UBS Group raised their target price on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, April 1st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, April 26th. Citigroup reduced their target price on Intel from $47.50 to $40.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Morgan Stanley reduced their target price on Intel from $48.00 to $36.00 and set an “equal weight” rating for the company in a research note on Friday, April 26th. Finally, Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a research note on Thursday, May 16th. Four equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average price target of $39.25.

Intel Stock Up 0.8 %

Intel stock opened at $31.35 on Friday. Intel Co. has a 1-year low of $29.73 and a 1-year high of $51.28. The firm has a market capitalization of $133.46 billion, a price-to-earnings ratio of 32.66, a P/E/G ratio of 18.76 and a beta of 1.05. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. The firm has a 50 day simple moving average of $31.63 and a 200 day simple moving average of $37.43.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). The business had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Intel had a net margin of 7.36% and a return on equity of 2.19%. On average, analysts predict that Intel Co. will post 0.07 earnings per share for the current year.

Insider Activity

In other news, CEO Patrick P. Gelsinger purchased 4,100 shares of Intel stock in a transaction dated Wednesday, May 1st. The stock was purchased at an average cost of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Patrick P. Gelsinger acquired 4,000 shares of the stock in a transaction dated Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the purchase, the chief executive officer now owns 35,275 shares in the company, valued at approximately $1,108,340.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Patrick P. Gelsinger acquired 4,100 shares of the stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average cost of $30.29 per share, with a total value of $124,189.00. Following the completion of the purchase, the chief executive officer now owns 39,375 shares of the company’s stock, valued at approximately $1,192,668.75. The disclosure for this purchase can be found here. Company insiders own 0.04% of the company’s stock.

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.