Public Sector Pension Investment Board Acquires 78,500 Shares of Intel Co. (NASDAQ:INTC)

Public Sector Pension Investment Board raised its stake in shares of Intel Co. (NASDAQ:INTC) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,292,089 shares of the chip maker’s stock after buying an additional 78,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in Intel were worth $30,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of INTC. William B. Walkup & Associates Inc. purchased a new position in Intel during the 2nd quarter valued at approximately $2,178,000. Swiss National Bank grew its holdings in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares in the last quarter. Fortis Group Advisors LLC increased its position in Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the last quarter. Mizuho Securities Co. Ltd. raised its stake in Intel by 2,910.4% during the third quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after purchasing an additional 27,940 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position 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. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 1.7 %

NASDAQ INTC opened at $23.65 on Thursday. The firm has a market cap of $102.00 billion, a PE ratio of -6.36 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average price of $23.38 and a 200 day moving average price of $25.99.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the prior year, the company posted $0.28 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, sell-side analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

INTC has been the topic of a number of research reports. Benchmark restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Susquehanna decreased their price objective on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. TD Cowen upgraded Intel to a “hold” rating in a report on Monday, September 16th. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Six equities research 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. According to MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $30.12.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was 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 owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

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.