CX Institutional Boosts Stake in Intel Co. (NASDAQ:INTC)

CX Institutional grew its position in shares of Intel Co. (NASDAQ:INTCGet Rating) by 58.8% during the third quarter, Holdings Channel reports. The fund owned 73,624 shares of the chip maker’s stock after purchasing an additional 27,248 shares during the period. CX Institutional’s holdings in Intel were worth $1,897,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INTC. Cantor Fitzgerald Investment Advisor L.P boosted its position in shares of Intel by 173.6% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock worth $26,761,000 after purchasing an additional 342,649 shares in the last quarter. Axiom Financial Strategies LLC lifted its position in Intel by 21.6% in the 1st quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock valued at $260,000 after acquiring an additional 1,056 shares in the last quarter. Fairfield Bush & CO. bought a new position in Intel in the 1st quarter valued at approximately $142,000. Retirement Income Solutions Inc lifted its position in Intel by 5.1% in the 1st quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock valued at $314,000 after acquiring an additional 307 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Intel by 26.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock valued at $290,593,000 after acquiring an additional 1,244,247 shares in the last quarter. Hedge funds and other institutional investors own 59.48% of the company’s stock.

Intel Trading Down 1.2 %

Shares of INTC stock opened at $29.92 on Wednesday. Intel Co. has a 52-week low of $24.59 and a 52-week high of $52.72. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.31 and a current ratio of 1.77. The firm has a market capitalization of $123.48 billion, a PE ratio of 9.21, a PEG ratio of 2.26 and a beta of 0.77. The stock has a fifty day simple moving average of $28.42 and a two-hundred day simple moving average of $30.46.

Intel (NASDAQ:INTCGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.25. Intel had a return on equity of 11.67% and a net margin of 19.13%. The business had revenue of $15.34 billion during the quarter, compared to analyst estimates of $15.49 billion. On average, analysts predict that Intel Co. will post 1.95 EPS for the current fiscal year.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 8,830 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was purchased at an average price of $28.16 per share, with a total value of $248,652.80. Following the acquisition, the chief executive officer now owns 96,049 shares in the company, valued at $2,704,739.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Lip Bu Tan purchased 48,146 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were bought at an average cost of $27.98 per share, for a total transaction of $1,347,125.08. Following the acquisition, the director now owns 50,500 shares of the company’s stock, valued at approximately $1,412,990. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Patrick P. Gelsinger acquired 8,830 shares of Intel stock in a transaction that occurred on Monday, October 31st. The stock was purchased at an average cost of $28.16 per share, for a total transaction of $248,652.80. Following the completion of the transaction, the chief executive officer now directly owns 96,049 shares in the company, valued at $2,704,739.84. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 58,830 shares of company stock valued at $1,646,744. Insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Evercore ISI set a $30.00 price objective on Intel in a research report on Wednesday, November 23rd. Credit Suisse Group set a $28.00 price objective on Intel in a research report on Wednesday, January 11th. Bank of America lowered their price objective on Intel from $30.00 to $28.00 and set an “underperform” rating on the stock in a research report on Friday, October 28th. JPMorgan Chase & Co. set a $32.00 price objective on Intel in a research report on Tuesday, January 17th. Finally, Susquehanna Bancshares lowered their price target on Intel to $23.00 in a report on Friday, September 30th. Ten equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $32.29.

Intel Company Profile

(Get Rating)

Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.

See Also

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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