Parallel Advisors LLC grew its holdings in Intel Co. (NASDAQ:INTC) by 5.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,441 shares of the chip maker’s stock after purchasing an additional 2,341 shares during the quarter. Parallel Advisors LLC’s holdings in Intel were worth $2,039,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in INTC. Canandaigua National Bank & Trust Co. grew its stake in shares of Intel by 2.4% in the third quarter. Canandaigua National Bank & Trust Co. now owns 106,011 shares of the chip maker’s stock worth $5,013,000 after acquiring an additional 2,513 shares in the last quarter. Stockman Wealth Management Inc. lifted its position in shares of Intel by 3.5% during the 3rd quarter. Stockman Wealth Management Inc. now owns 127,803 shares of the chip maker’s stock worth $6,044,000 after purchasing an additional 4,311 shares during the last quarter. American Century Companies Inc. lifted its position in Intel by 23.1% in the third quarter. American Century Companies Inc. now owns 9,788,445 shares of the chip maker’s stock valued at $462,896,000 after acquiring an additional 1,836,266 shares during the last quarter. Ballast Inc. lifted its position in Intel by 17.9% in the third quarter. Ballast Inc. now owns 11,105 shares of the chip maker’s stock valued at $525,000 after acquiring an additional 1,684 shares during the last quarter. Finally, Gulf International Bank UK Ltd lifted its position in Intel by 5.6% in the third quarter. Gulf International Bank UK Ltd now owns 1,592,007 shares of the chip maker’s stock valued at $75,286,000 after acquiring an additional 84,139 shares during the last quarter. 65.99% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Venkata S. M. Renduchintala sold 37,989 shares of the business’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $52.19, for a total transaction of $1,982,645.91. Following the transaction, the insider now owns 76,855 shares of the company’s stock, valued at $4,011,062.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Navin Shenoy sold 611 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $51.00, for a total transaction of $31,161.00. Following the transaction, the executive vice president now directly owns 51,619 shares in the company, valued at approximately $2,632,569. The disclosure for this sale can be found here. Insiders sold 73,576 shares of company stock valued at $3,861,923 over the last 90 days. 0.02% of the stock is owned by corporate insiders.
A number of equities research analysts recently weighed in on INTC shares. JPMorgan Chase & Co. reissued a “buy” rating and issued a $64.00 price target on shares of Intel in a research report on Friday, April 26th. Deutsche Bank reduced their price target on shares of Intel from $62.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Wells Fargo & Co reduced their price target on shares of Intel from $60.00 to $55.00 and set a “market perform” rating for the company in a research report on Thursday, May 9th. Argus lowered shares of Intel from a “buy” rating to a “hold” rating and set a $52.43 price target on the stock. in a research note on Monday, April 29th. Finally, Daiwa Capital Markets downgraded shares of Intel from an “outperform” rating to a “neutral” rating in a report on Monday, April 29th. Eight analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Intel presently has an average rating of “Hold” and an average price target of $54.17.
Shares of Intel stock traded up $1.34 on Wednesday, reaching $48.19. The stock had a trading volume of 20,921,561 shares, compared to its average volume of 24,116,498. The business has a 50-day moving average price of $45.71. The company has a current ratio of 1.54, a quick ratio of 1.13 and a debt-to-equity ratio of 0.35. Intel Co. has a fifty-two week low of $42.36 and a fifty-two week high of $59.59. The company has a market capitalization of $213.24 billion, a PE ratio of 10.52, a P/E/G ratio of 1.50 and a beta of 0.84.
Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, April 25th. The chip maker reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.02. Intel had a net margin of 29.04% and a return on equity of 29.54%. The business had revenue of $16.10 million during the quarter, compared to analysts’ expectations of $16.03 billion. During the same period in the previous year, the company earned $0.87 earnings per share. Intel’s revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts forecast that Intel Co. will post 4.24 earnings per share for the current year.
Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.
Read More: Forex
Receive News & Ratings for Intel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intel and related companies with MarketBeat.com's FREE daily email newsletter.