Jennison Associates LLC Boosts Stock Holdings in Intel Co. (NASDAQ:INTC)

Jennison Associates LLC raised its holdings in shares of Intel Co. (NASDAQ:INTC) by 299.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 611,833 shares of the chip maker’s stock after buying an additional 458,608 shares during the period. Jennison Associates LLC’s holdings in Intel were worth $30,745,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. New Millennium Group LLC boosted its holdings in shares of Intel by 87.2% during the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after purchasing an additional 231 shares during the period. Valued Wealth Advisors LLC purchased a new stake in shares of Intel during the fourth quarter worth about $36,000. Legacy Financial Group LLC purchased a new stake in shares of Intel during the third quarter worth about $30,000. Raleigh Capital Management Inc. raised its stake in Intel by 62.8% in the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock worth $33,000 after buying an additional 362 shares in the last quarter. Finally, Financial Connections Group Inc. bought a new position in Intel in the fourth quarter worth about $52,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Price Performance

Intel stock opened at $34.50 on Thursday. The stock has a market cap of $145.87 billion, a price-to-earnings ratio of 88.46, a price-to-earnings-growth ratio of 3.08 and a beta of 1.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. Intel Co. has a 1 year low of $26.85 and a 1 year high of $51.28. The firm has a 50-day moving average of $41.29 and a two-hundred day moving average of $42.30.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a net margin of 3.11% and a return on equity of 1.64%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.10 EPS. On average, research analysts forecast that Intel Co. will post 0.61 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction that occurred on Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, for a total transaction of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of Intel stock in a transaction that occurred on Monday, January 29th. The shares were purchased at an average price of $43.36 per share, with a total value of $130,080.00. Following the purchase, the chief executive officer now owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on INTC. Truist Financial reaffirmed a “hold” rating and set a $45.00 target price on shares of Intel in a research note on Wednesday, April 3rd. Raymond James reduced their price target on shares of Intel from $54.00 to $52.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Wedbush restated a “neutral” rating and issued a $40.00 target price on shares of Intel in a report on Wednesday, April 17th. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a research note on Friday, February 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of Intel from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. Four equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $42.38.

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.