Biechele Royce Advisors Sells 2,787 Shares of Intel Co. (NASDAQ:INTC)

Biechele Royce Advisors reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 230,546 shares of the chip maker’s stock after selling 2,787 shares during the quarter. Intel makes up approximately 1.8% of Biechele Royce Advisors’ holdings, making the stock its 20th biggest position. Biechele Royce Advisors’ holdings in Intel were worth $5,409,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in INTC. Capital International Investors boosted its holdings in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Intel by 60.5% in 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 during the last quarter. Davis Selected Advisers boosted its holdings in shares of 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 last quarter. Caxton Associates LP acquired a new stake in Intel during the 2nd quarter valued at $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after purchasing an additional 4,272,395 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on INTC. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Robert W. Baird lifted their target price on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Trading Up 7.8 %

INTC traded up $1.68 on Friday, hitting $23.20. 173,471,115 shares of the company were exchanged, compared to its average volume of 59,380,906. The firm has a fifty day simple moving average of $21.79 and a two-hundred day simple moving average of $27.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock has a market capitalization of $99.20 billion, a PE ratio of -6.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter last year, the business posted ($0.05) EPS. The company’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Insider Activity

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by company 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.