Stonegate Investment Group LLC Has $868,000 Stock Holdings in Intel Co. (NASDAQ:INTC)

Stonegate Investment Group LLC lowered its position in shares of Intel Co. (NASDAQ:INTC) by 9.0% in the fourth quarter, HoldingsChannel reports. The fund owned 43,286 shares of the chip maker’s stock after selling 4,262 shares during the period. Stonegate Investment Group LLC’s holdings in Intel were worth $868,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its holdings in Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after purchasing an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position 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 worth $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp boosted 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 worth $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Intel by 224.8% in 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 acquiring an additional 7,207,785 shares in the last quarter. Finally, State Street Corp increased its position 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 valued at $4,644,112,000 after acquiring an additional 5,417,753 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INTC. Barclays decreased their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Truist Financial boosted their target price on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Bank of America reiterated an “underperform” rating and issued a $21.00 price target on shares of Intel in a research note on Tuesday, December 3rd. UBS Group lowered their price objective on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Finally, HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $27.88.

Intel Stock Performance

NASDAQ:INTC opened at $19.80 on Wednesday. The company has a market cap of $85.40 billion, a price-to-earnings ratio of -5.32, a PEG ratio of 9.72 and a beta of 1.07. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a fifty day moving average price of $21.14 and a 200-day moving average price of $22.76.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $13.02 billion. During the same period in the prior year, the company 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 analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on 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 sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by company insiders.

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.