Rakuten Securities Inc. Grows Position in Intel Co. (NASDAQ:INTC)

Rakuten Securities Inc. raised its stake in shares of Intel Co. (NASDAQ:INTC) by 217.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 91,251 shares of the chip maker’s stock after purchasing an additional 62,461 shares during the quarter. Intel makes up approximately 0.9% of Rakuten Securities Inc.’s portfolio, making the stock its 22nd largest holding. Rakuten Securities Inc.’s holdings in Intel were worth $2,141,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. America First Investment Advisors LLC bought a new stake in shares of Intel in the second quarter worth $25,000. Cyrus J. Lawrence LLC purchased a new position in Intel in the second quarter worth about $27,000. Spartan Fund Management Inc. bought a new stake in shares of Intel during the 2nd quarter valued at about $31,000. Financial Connections Group Inc. purchased a new stake in shares of Intel during the 2nd quarter valued at about $32,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Intel in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Down 4.4 %

INTC opened at $25.05 on Tuesday. The stock has a 50-day moving average of $22.28 and a 200 day moving average of $26.48. 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 $51.28. The firm has a market cap of $108.04 billion, a P/E ratio of -6.73 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) 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 company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the firm posted $0.28 EPS. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts forecast that Intel Co. will post -0.83 EPS for the current year.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated 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 $7,104,708. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of research reports. Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Argus cut Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Northland Securities reduced their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Six 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 company. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $30.12.

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.