BNC Wealth Management LLC Buys 5,466 Shares of Intel Co. (NASDAQ:INTC)

BNC Wealth Management LLC lifted its stake in Intel Co. (NASDAQ:INTC) by 40.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,000 shares of the chip maker’s stock after purchasing an additional 5,466 shares during the period. BNC Wealth Management LLC’s holdings in Intel were worth $381,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp grew its holdings in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC grew its holdings in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Intel by 28.2% during the 3rd 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 acquiring an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp grew its holdings in 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 acquiring an additional 9,422,136 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Intel by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after acquiring an additional 487,191 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is owned by company insiders.

Analyst Ratings Changes

INTC has been the subject of several analyst reports. Barclays decreased their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday. Truist Financial increased their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Northland Securities decreased their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Stifel Nicolaus reissued a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, The Goldman Sachs Group decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus target price of $29.88.

Intel Stock Up 9.3 %

NASDAQ INTC opened at $21.49 on Friday. The firm’s fifty day moving average price is $21.55 and its 200 day moving average price is $23.32. 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 $50.30.

Intel (NASDAQ:INTC) last issued 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). The business had revenue of $13.30 billion for the quarter, compared to analyst estimates 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 for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. Sell-side analysts anticipate 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.