Avanza Fonder AB Invests $10.56 Million in Intel Co. (NASDAQ:INTC)

Avanza Fonder AB acquired a new position in shares of Intel Co. (NASDAQ:INTC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 526,558 shares of the chip maker’s stock, valued at approximately $10,557,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INTC. Dunhill Financial LLC raised its holdings 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 valued at $56,000 after acquiring an additional 438 shares during the period. MKT Advisors LLC increased its stake in shares of Intel by 4.8% in the third quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock worth $241,000 after acquiring an additional 490 shares during the last quarter. Beaton Management Co. Inc. grew its stake in Intel by 2.2% in the third quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after purchasing an additional 500 shares in the last quarter. Everpar Advisors LLC lifted its holdings in shares of Intel by 5.1% during the 3rd quarter. Everpar Advisors LLC now owns 10,326 shares of the chip maker’s stock valued at $242,000 after buying an additional 504 shares during the last quarter. Finally, Lavaca Capital LLC lifted its stake in Intel by 4.7% in the second quarter. Lavaca Capital LLC now owns 11,796 shares of the chip maker’s stock valued at $365,000 after acquiring an additional 530 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Up 7.5 %

INTC opened at $21.15 on Friday. The company has a 50 day moving average of $21.78 and a 200 day moving average of $23.47. The company has a market cap of $91.20 billion, a PE ratio of -5.68, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.97 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 $50.30.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. On average, sell-side analysts expect that Intel Co. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on INTC shares. Truist Financial raised 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. Northland Securities reduced their target price on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Robert W. Baird lifted their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Intel has an average rating of “Hold” and an average target price of $29.88.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

About Intel

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.