Intel Co. (NASDAQ:INTC) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC trimmed its position in Intel Co. (NASDAQ:INTC) by 74.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 170,812 shares of the chip maker’s stock after selling 485,641 shares during the period. Penserra Capital Management LLC’s holdings in Intel were worth $4,006,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Primecap Management Co. CA raised its position in Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock valued at $743,457,000 after purchasing an additional 2,248,332 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Intel by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock worth $759,127,000 after buying an additional 656,583 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of Intel stock opened at $24.87 on Tuesday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The firm has a fifty day simple moving average of $23.27 and a 200-day simple moving average of $26.05. 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 stock has a market capitalization of $107.26 billion, a price-to-earnings ratio of -6.69 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings results 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). The firm 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 firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. On average, sell-side analysts expect that Intel Co. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on INTC shares. Cantor Fitzgerald cut their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft dropped their price target on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Wedbush decreased their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Six equities 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus 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.