ING Groep NV Has $34.63 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

ING Groep NV lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 16.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,476,051 shares of the chip maker’s stock after selling 293,686 shares during the quarter. ING Groep NV’s holdings in Intel were worth $34,628,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of INTC. America First Investment Advisors LLC acquired a new position in Intel in the 2nd quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel in the second quarter worth approximately $27,000. Spartan Fund Management Inc. acquired a new stake in shares of Intel during the second quarter worth $31,000. Financial Connections Group Inc. bought a new stake in Intel during the second quarter valued at $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in Intel during the 2nd quarter worth about $33,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of INTC stock traded up $0.40 during trading hours on Thursday, hitting $25.32. 16,892,377 shares of the company were exchanged, compared to its average volume of 59,938,766. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $22.47 and a 200 day simple moving average of $26.42. The stock has a market capitalization of $109.21 billion, a price-to-earnings ratio of -6.81 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued 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 firm had revenue of $13.30 billion during 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 business’s quarterly revenue 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. Research analysts predict that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently commented on INTC shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Truist Financial lifted their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Mizuho raised their price target on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Six 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 stock. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $30.12.

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.