Invesco LLC Sells 1,796 Shares of Intel Co. (NASDAQ:INTC)

Invesco LLC cut its stake in Intel Co. (NASDAQ:INTC) by 7.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,987 shares of the chip maker’s stock after selling 1,796 shares during the period. Invesco LLC’s holdings in Intel were worth $461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its holdings in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after acquiring an additional 5,417,753 shares during the period. Geode Capital Management LLC increased its position in shares of 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 purchasing an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intel by 28.2% during the 3rd 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 purchasing an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp boosted its position in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after buying an additional 2,248,332 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 completion of the transaction, the executive vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Trading Up 0.5 %

Shares of NASDAQ INTC traded up $0.10 during midday trading on Wednesday, reaching $19.90. 13,044,421 shares of the stock were exchanged, compared to its average volume of 65,093,617. 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 Co. has a 12 month low of $18.51 and a 12 month high of $46.63. The business has a 50-day simple moving average of $21.06 and a two-hundred day simple moving average of $22.65. The company has a market capitalization of $85.81 billion, a price-to-earnings ratio of -5.36, a P/E/G ratio of 9.72 and a beta of 1.07.

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 business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the business earned $0.28 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Intel Co. will post -0.87 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Robert W. Baird boosted their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Citigroup lowered their target price on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Northland Securities reduced 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. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.88.

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.