Erste Asset Management GmbH Invests $8.75 Million in Intel Co. (NASDAQ:INTC)

Erste Asset Management GmbH acquired a new position in shares of Intel Co. (NASDAQ:INTC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 371,729 shares of the chip maker’s stock, valued at approximately $8,752,000.

Several other hedge funds have also added to or reduced their stakes in the company. William B. Walkup & Associates Inc. acquired a new position in shares of Intel in the 2nd quarter valued at $2,178,000. Swiss National Bank boosted its holdings in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the last quarter. Fortis Group Advisors LLC grew its position in shares of Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after acquiring an additional 157,991 shares during the period. Mizuho Securities Co. Ltd. raised its stake in Intel by 2,910.4% in the third quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after buying an additional 27,940 shares during the period. Finally, CreativeOne Wealth LLC lifted its stake in shares of Intel by 104.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock worth $1,427,000 after buying an additional 31,143 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Robert W. Baird lifted their price objective on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Truist Financial upped their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Northland Securities lowered their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Intel has an average rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

Shares of NASDAQ INTC opened at $24.05 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company’s fifty day moving average price is $23.48 and its 200 day moving average price is $25.85. The company has a market capitalization of $103.73 billion, a PE ratio of -6.47 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates 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 for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. On average, research analysts predict that Intel Co. will post -0.87 earnings per share for the current year.

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.