Blueshift Asset Management LLC Grows Stake in Intel Co. (NASDAQ:INTC)

Blueshift Asset Management LLC boosted its stake in shares of Intel Co. (NASDAQ:INTC) by 118.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 67,934 shares of the chip maker’s stock after purchasing an additional 36,798 shares during the period. Blueshift Asset Management LLC’s holdings in Intel were worth $1,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. America First Investment Advisors LLC bought a new stake in Intel in the second quarter worth $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel during the 2nd quarter worth about $27,000. Quest Partners LLC grew its holdings in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. purchased a new stake in Intel in the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new stake in Intel in the second quarter worth about $32,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on INTC. Roth Mkm cut their target price on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Robert W. Baird lifted their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Finally, Barclays lowered their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Six investment 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 MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.12.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Stock Down 3.3 %

Shares of NASDAQ:INTC opened at $24.05 on Wednesday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. 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 business has a 50 day moving average of $23.32 and a two-hundred day moving average of $26.00.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) 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 analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. As a group, research analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Intel Company 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.