Intel Co. (NASDAQ:INTC) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Intel Co. (NASDAQ:INTC) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,827,123 shares of the chip maker’s stock after acquiring an additional 204,200 shares during the period. Principal Financial Group Inc. owned about 0.11% of Intel worth $113,244,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Key Financial Inc grew its holdings in Intel by 4.1% during the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after purchasing an additional 340 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of Intel by 1.4% during the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock valued at $767,000 after acquiring an additional 348 shares in the last quarter. Dunhill Financial LLC increased its position in shares of Intel by 22.6% during the third quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after acquiring an additional 438 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its stake in shares of Intel by 1.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 34,491 shares of the chip maker’s stock worth $1,068,000 after acquiring an additional 478 shares in the last quarter. Finally, MKT Advisors LLC boosted its holdings in Intel by 4.8% in the third quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock valued at $241,000 after purchasing an additional 490 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Up 2.4 %

Shares of NASDAQ:INTC opened at $19.52 on Friday. The firm has a fifty day moving average of $22.78 and a two-hundred day moving average of $24.86. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The firm has a market capitalization of $84.19 billion, a P/E ratio of -5.25 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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 net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the business posted $0.28 EPS. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INTC has been the topic of several analyst reports. Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. Mizuho lifted their target price on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Bank of America reissued an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Six research 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 company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.04.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.

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.