Intel Co. (NASDAQ:INTC) Position Reduced by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 18.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 738,418 shares of the chip maker’s stock after selling 165,764 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Intel were worth $14,805,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after buying an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp raised its holdings in Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Intel by 224.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after buying an additional 7,207,785 shares in the last quarter. Finally, State Street Corp increased its position in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions 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 stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ INTC opened at $19.69 on Friday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $50.30. The company has a market cap of $84.90 billion, a P/E ratio of -5.29, a P/E/G ratio of 8.53 and a beta of 1.07. The business’s 50 day moving average is $21.78 and its two-hundred day moving average is $23.47. 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 (NASDAQ:INTC) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. On average, equities analysts expect that Intel Co. will post -0.87 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on INTC shares. The Goldman Sachs Group reduced their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Stifel Nicolaus reissued a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Northland Securities dropped their target price on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho cut their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Intel presently has an average rating of “Hold” and an average price target of $29.96.

Intel 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.