Jacobs Levy Equity Management Inc. Has $244.30 Million Position in Intel Co. (NASDAQ:INTC)

Jacobs Levy Equity Management Inc. grew its position in shares of Intel Co. (NASDAQ:INTC) by 224.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,413,544 shares of the chip maker’s stock after buying an additional 7,207,785 shares during the quarter. Intel accounts for approximately 0.9% of Jacobs Levy Equity Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Jacobs Levy Equity Management Inc. owned 0.24% of Intel worth $244,302,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of INTC. Harbor Capital Advisors Inc. grew its holdings in Intel by 3.5% in the second quarter. Harbor Capital Advisors Inc. now owns 51,999 shares of the chip maker’s stock worth $1,610,000 after purchasing an additional 1,738 shares during the period. Apella Capital LLC lifted its holdings in Intel by 6.4% during the 2nd quarter. Apella Capital LLC now owns 10,390 shares of the chip maker’s stock valued at $322,000 after buying an additional 623 shares in the last quarter. Fiduciary Alliance LLC grew its position in shares of Intel by 186.6% in the 2nd quarter. Fiduciary Alliance LLC now owns 15,102 shares of the chip maker’s stock worth $469,000 after buying an additional 9,832 shares during the last quarter. Cullinan Associates Inc. lifted its stake in Intel by 13.3% during the 2nd quarter. Cullinan Associates Inc. now owns 88,389 shares of the chip maker’s stock valued at $2,737,000 after acquiring an additional 10,400 shares during the period. Finally, Aprio Wealth Management LLC lifted its stake in shares of Intel by 5.6% in the 2nd quarter. Aprio Wealth Management LLC now owns 9,990 shares of the chip maker’s stock valued at $309,000 after purchasing an additional 532 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on INTC. Mizuho boosted their price objective on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Truist Financial lifted their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Six equities 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.12.

Intel Price Performance

Shares of NASDAQ:INTC opened at $23.93 on Tuesday. The company’s 50 day moving average is $23.50 and its two-hundred day moving average is $25.80. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period last year, the firm earned $0.28 earnings per share. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts expect 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.