Assenagon Asset Management S.A. Has $393.32 Million Stake in Intel Co. (NASDAQ:INTC)

Assenagon Asset Management S.A. increased its position in shares of Intel Co. (NASDAQ:INTC) by 264.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,617,088 shares of the chip maker’s stock after acquiring an additional 14,227,458 shares during the period. Intel comprises about 0.6% of Assenagon Asset Management S.A.’s portfolio, making the stock its 18th biggest position. Assenagon Asset Management S.A.’s holdings in Intel were worth $393,323,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INTC. William B. Walkup & Associates Inc. acquired a new position in shares of Intel during the second quarter worth $2,178,000. Geode Capital Management LLC lifted its holdings in Intel by 4.6% during the 3rd 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 during the period. Principal Financial Group Inc. lifted its holdings in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after buying an additional 204,200 shares during the period. Swiss National Bank grew its position in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the last quarter. Finally, InvesTrust acquired a new stake in shares of Intel in the fourth quarter valued at about $3,696,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

Shares of Intel stock opened at $19.20 on Wednesday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30. The company has a 50 day simple moving average of $21.89 and a two-hundred day simple moving average of $23.49. The firm has a market cap of $82.81 billion, a PE ratio of -5.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm 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% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. Analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred 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 sale, 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the topic of a number of analyst reports. Northland Securities reduced their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Bank of America restated an “underperform” rating and set a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Six 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 company. According to MarketBeat.com, Intel has a consensus rating of “Hold” and a consensus target price of $29.96.

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.