Savoie Capital LLC Boosts Stock Holdings in Intel Co. (NASDAQ:INTC)

Savoie Capital LLC increased its holdings in shares of Intel Co. (NASDAQ:INTC) by 196.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 96,506 shares of the chip maker’s stock after purchasing an additional 64,006 shares during the period. Savoie Capital LLC’s holdings in Intel were worth $2,264,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of INTC. William B. Walkup & Associates Inc. acquired a new position in Intel during the 2nd quarter valued at about $2,178,000. Swiss National Bank raised its position in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares during the last quarter. SGL Investment Advisors Inc. acquired a new stake in Intel in the 3rd quarter worth approximately $2,365,000. Benjamin Edwards Inc. grew its position in Intel by 35,983.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 32,836 shares of the chip maker’s stock worth $770,000 after purchasing an additional 32,745 shares during the last quarter. Finally, Fortis Group Advisors LLC increased its stake in Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after purchasing an additional 157,991 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on INTC shares. Mizuho lifted their price target on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. The Goldman Sachs Group dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. 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. Robert W. Baird upped their price target 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, Rosenblatt Securities restated a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.04.

Intel Stock Down 0.5 %

NASDAQ INTC opened at $20.81 on Tuesday. The business’s fifty day simple moving average is $23.29 and its 200-day simple moving average is $25.44. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm has a market cap of $89.75 billion, a PE ratio of -5.59 and a beta of 1.05. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the prior year, the business earned $0.28 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.04% of the company’s stock.

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.