Intel Co. (NASDAQ:INTC) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC boosted its position in shares of Intel Co. (NASDAQ:INTC) by 82.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 61,245 shares of the chip maker’s stock after buying an additional 27,607 shares during the period. Miracle Mile Advisors LLC’s holdings in Intel were worth $1,228,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of INTC. Sunflower Bank N.A. raised its stake in shares of Intel by 7.0% during the 4th quarter. Sunflower Bank N.A. now owns 21,989 shares of the chip maker’s stock worth $441,000 after purchasing an additional 1,447 shares in the last quarter. Elevated Capital Advisors LLC acquired a new stake in shares of Intel during the 4th quarter worth approximately $209,000. Persium Advisors LLC acquired a new stake in Intel in the 4th quarter valued at $688,000. Claro Advisors LLC acquired a new stake in Intel in the 4th quarter valued at $260,000. Finally, City State Bank raised its position in Intel by 39.0% in the 4th quarter. City State Bank now owns 10,384 shares of the chip maker’s stock valued at $208,000 after purchasing an additional 2,915 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

INTC stock opened at $19.20 on Wednesday. The stock has a 50-day moving average price of $21.89 and a 200-day moving average price of $23.49. Intel Co. has a 1-year low of $18.51 and a 1-year high of $50.30. 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 market cap of $82.81 billion, a PE ratio of -5.16 and a beta of 1.07.

Intel (NASDAQ:INTC) last issued 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 net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that Intel Co. will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Bank of America reissued an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. The Goldman Sachs Group dropped their price objective on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Finally, Northland Securities dropped their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $29.96.

Insider Buying and Selling

In other 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 transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.04% of the stock is owned by company insiders.

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.