Southland Equity Partners LLC Invests $608,000 in Intel Co. (NASDAQ:INTC)

Southland Equity Partners LLC acquired a new stake in Intel Co. (NASDAQ:INTC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 30,326 shares of the chip maker’s stock, valued at approximately $608,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its position in shares of 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 purchasing an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 valued at $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp increased its holdings in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Finally, Legal & General Group Plc raised its position in 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 in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Hsbc Global Res raised shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday. UBS Group lowered their price target on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday. Citigroup cut their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday. Bank of America reissued an “underperform” rating and set a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $28.81.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Performance

INTC opened at $21.57 on Friday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $50.30. The firm has a 50-day moving average of $21.37 and a 200 day moving average of $23.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last released its 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 company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, sell-side analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal 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.