Swedbank AB Acquires 4,300 Shares of Intel Co. (NASDAQ:INTC)

Swedbank AB grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 0.3% in the third quarter, HoldingsChannel.com reports. The fund owned 1,666,889 shares of the chip maker’s stock after purchasing an additional 4,300 shares during the period. Swedbank AB’s holdings in Intel were worth $39,105,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Key Financial Inc lifted its position in Intel by 4.1% during the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after purchasing an additional 340 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings in shares of Intel by 1.4% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after acquiring an additional 348 shares during the last quarter. Cypress Asset Management Inc. TX grew its position in Intel by 1.6% in the first quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock worth $1,015,000 after acquiring an additional 350 shares in the last quarter. Cidel Asset Management Inc. increased its stake in Intel by 0.6% in the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock valued at $2,000,000 after acquiring an additional 381 shares during the last quarter. Finally, Alhambra Investment Management LLC raised its position in Intel by 5.9% during the second quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock valued at $217,000 after purchasing an additional 389 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of Intel stock opened at $24.87 on Tuesday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The firm has a market capitalization of $107.26 billion, a P/E ratio of -6.69 and a beta of 1.03. 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 business has a fifty day simple moving average of $23.27 and a two-hundred day simple moving average of $26.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. 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 previous year, the firm earned $0.28 EPS. The company’s revenue was down 6.3% on a year-over-year basis. On average, equities analysts forecast that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Barclays reduced their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Robert W. Baird increased their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.12.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 completion of the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.

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.