Intel Co. (NASDAQ:INTC) Shares Sold by Burney Co.

Burney Co. reduced its stake in Intel Co. (NASDAQ:INTC) by 6.6% in the 4th quarter, Holdings Channel reports. The firm owned 61,098 shares of the chip maker’s stock after selling 4,307 shares during the quarter. Burney Co.’s holdings in Intel were worth $1,225,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Intel by 2.8% in the third 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 period. Geode Capital Management LLC lifted its holdings in Intel by 4.6% in 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 buying an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intel by 28.2% in 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 valued at $1,371,692,000 after buying an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Intel by 1.3% during the second 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 during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.04% of the stock is currently owned by company insiders.

Intel Stock Performance

NASDAQ:INTC opened at $19.69 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average of $21.78 and a 200-day moving average of $23.47. Intel Co. has a twelve month low of $18.51 and a twelve month high of $50.30. The firm has a market cap of $84.90 billion, a price-to-earnings ratio of -5.29, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion during 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 company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. Analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the topic of several analyst reports. Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Truist Financial raised their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Bank of America restated an “underperform” rating and issued a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Finally, Robert W. Baird lifted their price target on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.96.

About Intel

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.