Harbour Investments Inc. Raises Stock Position in Intel Co. (NASDAQ:INTC)

Harbour Investments Inc. raised its stake in Intel Co. (NASDAQ:INTC) by 13.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,341 shares of the chip maker’s stock after buying an additional 4,793 shares during the period. Harbour Investments Inc.’s holdings in Intel were worth $970,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. America First Investment Advisors LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $27,000. Spartan Fund Management Inc. acquired a new stake in shares of Intel in the second quarter valued at approximately $31,000. Financial Connections Group Inc. acquired a new stake in shares of Intel in the second quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $33,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on INTC. Robert W. Baird increased their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Northland Securities lowered their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho raised their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, The Goldman Sachs Group decreased their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

NASDAQ:INTC opened at $25.03 on Friday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $107.95 billion, a price-to-earnings ratio of -6.81 and a beta of 1.03. The firm’s fifty day simple moving average is $22.47 and its 200 day simple moving average is $26.42.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the prior year, the firm earned $0.28 EPS. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value 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. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.