Rempart Asset Management Inc. Trims Holdings in Intel Co. (NASDAQ:INTC)

Rempart Asset Management Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 42.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,100 shares of the chip maker’s stock after selling 51,905 shares during the period. Intel makes up about 0.3% of Rempart Asset Management Inc.’s portfolio, making the stock its 29th biggest position. Rempart Asset Management Inc.’s holdings in Intel were worth $1,426,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. William B. Walkup & Associates Inc. purchased a new position in shares of Intel in the 2nd quarter valued at about $2,178,000. Geode Capital Management LLC grew its holdings in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Intel by 4.4% in the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after buying an additional 204,200 shares during the last quarter. Swiss National Bank lifted its stake in Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after purchasing an additional 31,800 shares in the last quarter. Finally, SGL Investment Advisors Inc. purchased a new position in Intel during the third quarter worth approximately $2,365,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Truist Financial increased their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Northland Securities decreased their target price on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Bank of America restated an “underperform” rating and set a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.04.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents 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 the SEC website. Corporate insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ:INTC traded down $0.06 during midday trading on Wednesday, hitting $19.95. 10,616,122 shares of the stock were exchanged, compared to its average volume of 49,375,105. The stock has a market cap of $86.04 billion, a P/E ratio of -5.36 and a beta of 1.07. Intel Co. has a twelve month low of $18.51 and a twelve month high of $50.30. The company has a 50 day moving average price of $22.20 and a 200-day moving average price of $23.89. 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 (NASDAQ:INTC) last released its quarterly 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). 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 during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, research analysts forecast that Intel Co. will post -0.87 earnings per share for the current 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.