Pacer Advisors Inc. Grows Holdings in Intel Co. (NASDAQ:INTC)

Pacer Advisors Inc. increased its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 603,456 shares of the chip maker’s stock after purchasing an additional 29,652 shares during the period. Pacer Advisors Inc.’s holdings in Intel were worth $14,157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. America First Investment Advisors LLC purchased a new position in shares of Intel during the second quarter worth about $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel during the 2nd quarter worth approximately $27,000. Quest Partners LLC grew its stake in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. acquired a new position in shares of Intel in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Intel during the second quarter worth approximately $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. UBS Group lowered their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Truist Financial raised their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. decreased their price target on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.12.

Intel Stock Up 0.2 %

Shares of NASDAQ INTC opened at $24.50 on Friday. The stock has a fifty day moving average price of $23.19 and a 200 day moving average price of $26.14. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a market cap of $105.67 billion, a P/E ratio of -6.59 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. Research analysts anticipate that Intel Co. will post -0.83 EPS for the current fiscal year.

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.