Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Position in Intel Co. (NASDAQ:INTC)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,414,459 shares of the chip maker’s stock after purchasing an additional 263,429 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Intel were worth $56,643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Key Financial Inc raised its position in shares of Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after purchasing an additional 340 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in Intel by 1.4% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock valued at $767,000 after acquiring an additional 348 shares in the last quarter. Cypress Asset Management Inc. TX boosted its stake in Intel by 1.6% during the 1st quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after acquiring an additional 350 shares during the last quarter. Cidel Asset Management Inc. grew its holdings in Intel by 0.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after acquiring an additional 381 shares in the last quarter. Finally, Alhambra Investment Management LLC increased its position in shares of Intel by 5.9% in the 2nd quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock worth $217,000 after purchasing an additional 389 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTC has been the subject of a number of research reports. Susquehanna lowered their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Roth Mkm lowered their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a research note on Friday, October 25th. UBS Group dropped their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average price target of $30.12.

Intel Trading Down 1.7 %

Shares of NASDAQ INTC opened at $23.65 on Thursday. The business has a fifty day simple moving average of $23.38 and a 200-day simple moving average of $25.99. The company has a market cap of $102.00 billion, a price-to-earnings ratio of -6.36 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

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 during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. 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 earnings per share. Sell-side analysts predict that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.04% of the company’s stock.

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.