UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 12,865,308 Shares of Intel Co. (NASDAQ:INTC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intel Co. (NASDAQ:INTC) by 28.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,469,412 shares of the chip maker’s stock after acquiring an additional 12,865,308 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.36% of Intel worth $1,371,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Public Sector Pension Investment Board lifted its position in shares of Intel by 6.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,292,089 shares of the chip maker’s stock valued at $30,312,000 after buying an additional 78,500 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Intel by 12.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,414,459 shares of the chip maker’s stock worth $56,643,000 after acquiring an additional 263,429 shares during the period. FORA Capital LLC purchased a new position in Intel during the third quarter valued at approximately $2,539,000. CreativeOne Wealth LLC boosted its position in shares of Intel by 104.9% in the third quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock worth $1,427,000 after purchasing an additional 31,143 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Intel by 4.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,624,859 shares of the chip maker’s stock worth $108,499,000 after purchasing an additional 193,110 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $23.65 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.97 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. The company has a market capitalization of $102.00 billion, a price-to-earnings ratio of -6.36 and a beta of 1.03. The firm’s 50-day moving average is $23.38 and its 200 day moving average is $25.99.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS 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 the consensus estimate of $13.02 billion. During the same period in the prior year, the company posted $0.28 EPS. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts predict that Intel Co. will post -0.87 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on INTC shares. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. decreased their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. Finally, Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $30.12.

Insiders Place Their Bets

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 shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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.