Premier Fund Managers Ltd Increases Position in Intel Co. (NASDAQ:INTC)

Premier Fund Managers Ltd raised its position in shares of Intel Co. (NASDAQ:INTC) by 62.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 248,678 shares of the chip maker’s stock after buying an additional 95,429 shares during the period. Premier Fund Managers Ltd’s holdings in Intel were worth $5,942,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of INTC. America First Investment Advisors LLC acquired a new stake in shares of Intel during the second quarter worth about $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the 2nd quarter worth approximately $27,000. Spartan Fund Management Inc. acquired a new stake in Intel during the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. purchased a new position in Intel in the 2nd quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC acquired a new position in shares of Intel in the second quarter worth $33,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on INTC shares. Truist Financial increased their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Stifel Nicolaus restated a “hold” rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Wedbush decreased their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. 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. According to MarketBeat.com, Intel has a consensus rating of “Hold” and an average price target of $30.12.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 completion of the sale, 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 at this link. 0.04% of the stock is currently owned by insiders.

Intel Price Performance

Shares of INTC opened at $24.20 on Wednesday. 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 Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The firm has a 50-day simple moving average of $22.91 and a 200-day simple moving average of $26.21. The company has a market capitalization of $104.37 billion, a price-to-earnings ratio of -6.51 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly earnings data 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 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 was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. On average, equities research analysts anticipate that Intel Co. will post -0.83 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.