Oak Asset Management LLC Has $1.58 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Oak Asset Management LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 41.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,560 shares of the chip maker’s stock after selling 56,203 shares during the period. Oak Asset Management LLC’s holdings in Intel were worth $1,575,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after buying an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. State Street Corp lifted its stake in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Finally, Caxton Associates LP bought a new stake in Intel in the second quarter worth $162,592,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by insiders.

Intel Trading Up 0.3 %

Intel stock opened at $19.20 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a 50-day simple moving average of $21.97 and a 200 day simple moving average of $23.58. The stock has a market capitalization of $82.81 billion, a P/E ratio of -5.16 and a beta of 1.07. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30.

Intel (NASDAQ:INTC) last posted 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 during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the company posted $0.28 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. Analysts expect that Intel Co. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Mizuho reduced their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday. The Goldman Sachs Group reduced their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus restated a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Truist Financial increased their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. 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 stock has an average rating of “Hold” and a consensus target price of $29.96.

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.