Intel Co. (NASDAQ:INTC) Stake Reduced by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 55.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,113,167 shares of the chip maker’s stock after selling 1,401,543 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Intel were worth $49,169,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Blackston Financial Advisory Group LLC acquired a new position in Intel during the 4th quarter worth $261,000. Highland Capital Management LLC boosted its position in Intel by 69.4% during the 4th quarter. Highland Capital Management LLC now owns 24,289 shares of the chip maker’s stock worth $1,221,000 after acquiring an additional 9,950 shares during the period. MJP Associates Inc. ADV acquired a new stake in shares of Intel in the fourth quarter valued at $342,000. Trueblood Wealth Management LLC acquired a new stake in shares of Intel in the fourth quarter valued at $504,000. Finally, Saxon Interests Inc. acquired a new stake in shares of Intel in the fourth quarter valued at $225,000. 64.53% of the stock is currently owned by institutional investors.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The stock was purchased at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the purchase, the chief executive officer now directly owns 35,275 shares in the company, valued at $1,108,340.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Patrick P. Gelsinger purchased 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was purchased at an average price of $30.29 per share, with a total value of $124,189.00. Following the acquisition, the chief executive officer now directly owns 39,375 shares in the company, valued at approximately $1,192,668.75. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the acquisition, the chief executive officer now owns 35,275 shares in the company, valued at $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is owned by corporate insiders.

Intel Stock Performance

INTC opened at $31.35 on Friday. The company has a market cap of $133.46 billion, a PE ratio of 32.66, a price-to-earnings-growth ratio of 18.76 and a beta of 1.05. The stock has a 50-day moving average of $31.63 and a 200-day moving average of $37.43. Intel Co. has a 52-week low of $29.73 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The business had revenue of $12.72 billion for the quarter, compared to the consensus estimate of $12.76 billion. As a group, equities research analysts forecast that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on INTC shares. Wolfe Research upgraded Intel from an “underperform” rating to a “peer perform” rating in a report on Thursday, May 16th. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Friday, April 26th. HSBC cut their price objective on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. TD Cowen cut their price objective on Intel from $42.00 to $35.00 and set a “hold” rating for the company in a report on Friday, April 26th. Finally, Mizuho cut their target price on Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Four analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $39.25.

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.