Traynor Capital Management Inc. Raises Stock Holdings in Intel Co. (NASDAQ:INTC)

Traynor Capital Management Inc. grew its stake in shares of Intel Co. (NASDAQ:INTC) by 128.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,840 shares of the chip maker’s stock after acquiring an additional 15,074 shares during the quarter. Traynor Capital Management Inc.’s holdings in Intel were worth $538,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in INTC. Assenagon Asset Management S.A. raised its stake in Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after buying an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Van ECK Associates Corp grew its stake in shares of Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. increased its position in shares of Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Northland Securities decreased their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Mizuho reduced their target price on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $28.81.

Intel Price Performance

NASDAQ INTC opened at $21.86 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30. The company has a fifty day moving average of $21.44 and a two-hundred day moving average of $23.13.

Intel (NASDAQ:INTC) last released its quarterly 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 return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated 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 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 the SEC website. Company 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.