Intel Co. (NASDAQ:INTC) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its position in shares of Intel Co. (NASDAQ:INTC) by 15.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,776,306 shares of the chip maker’s stock after selling 521,863 shares during the period. The Manufacturers Life Insurance Company’s holdings in Intel were worth $65,132,000 as of its most recent SEC filing.

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

Intel Trading Down 1.7 %

Intel stock opened at $23.65 on Thursday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The stock has a market capitalization of $102.00 billion, a PE ratio of -6.36 and a beta of 1.03. The firm has a 50 day simple moving average of $23.38 and a 200-day simple moving average of $25.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last issued its quarterly 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 for the quarter, compared to analyst estimates 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 for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. As a group, equities research analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on INTC shares. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Mizuho boosted their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.12.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 transaction, the executive vice president now 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 filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

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.