Intel Co. (NASDAQ:INTC) Stake Boosted by Jennison Associates LLC

Jennison Associates LLC increased its stake in Intel Co. (NASDAQ:INTC) by 299.3% during the fourth quarter, HoldingsChannel reports. The firm owned 611,833 shares of the chip maker’s stock after acquiring an additional 458,608 shares during the period. Jennison Associates LLC’s holdings in Intel were worth $30,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of INTC. New Millennium Group LLC grew its stake in Intel by 87.2% during the 4th quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock valued at $25,000 after acquiring an additional 231 shares in the last quarter. Legacy Financial Group LLC purchased a new position in Intel during the 3rd quarter valued at about $30,000. Raleigh Capital Management Inc. grew its stake in Intel by 62.8% during the 3rd quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after acquiring an additional 362 shares in the last quarter. Valued Wealth Advisors LLC bought a new stake in shares of Intel in the 4th quarter valued at approximately $36,000. Finally, Briaud Financial Planning Inc bought a new stake in shares of Intel in the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of several analyst reports. HSBC reduced their target price on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday. Morgan Stanley boosted their price objective on Intel from $39.00 to $48.00 and gave the company an “equal weight” rating in a research report on Monday, January 29th. Truist Financial reaffirmed a “hold” rating and set a $45.00 price target on shares of Intel in a research note on Wednesday, April 3rd. Wedbush reaffirmed a “neutral” rating and set a $40.00 price target on shares of Intel in a research note on Wednesday, April 17th. Finally, Evercore ISI began coverage on Intel in a research note on Tuesday, April 16th. They issued an “in-line” rating and a $40.00 target price on the stock. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $42.38.

Intel Stock Performance

INTC opened at $34.50 on Thursday. Intel Co. has a 12-month low of $26.85 and a 12-month high of $51.28. The stock has a market cap of $145.87 billion, a price-to-earnings ratio of 88.46, a PEG ratio of 3.08 and a beta of 1.00. The business has a 50 day moving average of $41.29 and a 200-day moving average of $42.30. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.27. The company had revenue of $15.40 billion during the quarter, compared to analysts’ expectations of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.10 earnings per share. On average, equities research analysts expect that Intel Co. will post 0.61 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Patrick P. Gelsinger purchased 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Patrick P. Gelsinger acquired 3,000 shares of the company’s stock in a transaction on Monday, January 29th. The stock was bought at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the acquisition, the chief executive officer now directly owns 28,475 shares in the company, valued at $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by 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.