Coastal Investment Advisors Inc. increased its holdings in shares of Intel Co. (NASDAQ:INTC) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,690 shares of the chip maker’s stock after acquiring an additional 1,874 shares during the period. Coastal Investment Advisors Inc.’s holdings in Intel were worth $1,230,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. BlackRock Inc. boosted its position in shares of Intel by 2.6% during the 3rd quarter. BlackRock Inc. now owns 320,571,576 shares of the chip maker’s stock valued at $16,599,197,000 after acquiring an additional 8,155,998 shares in the last quarter. FMR LLC grew its position in shares of Intel by 39.2% during the 2nd quarter. FMR LLC now owns 29,092,410 shares of the chip maker’s stock worth $1,740,598,000 after buying an additional 8,197,324 shares during the period. Morgan Stanley grew its position in shares of Intel by 5.1% during the 3rd quarter. Morgan Stanley now owns 28,764,845 shares of the chip maker’s stock worth $1,489,443,000 after buying an additional 1,404,805 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Intel by 4.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 23,938,003 shares of the chip maker’s stock worth $1,239,509,000 after buying an additional 968,402 shares during the period. Finally, UBS Asset Management Americas Inc. grew its position in shares of Intel by 4.5% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 19,278,079 shares of the chip maker’s stock worth $998,219,000 after buying an additional 832,767 shares during the period. Institutional investors and hedge funds own 60.73% of the company’s stock.
In other news, EVP Navin Shenoy sold 2,848 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $44.96, for a total transaction of $128,046.08. Following the completion of the transaction, the executive vice president now owns 72,272 shares of the company’s stock, valued at $3,249,349.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kevin Thomas Mcbride sold 589 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $44.96, for a total value of $26,481.44. Following the transaction, the vice president now directly owns 14,486 shares of the company’s stock, valued at approximately $651,290.56. The disclosure for this sale can be found here. 0.04% of the stock is owned by insiders.
Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 22nd. The chip maker reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.01. The business had revenue of $18.33 billion during the quarter, compared to analyst estimates of $18.26 billion. Intel had a return on equity of 29.44% and a net margin of 28.10%. The company’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS. On average, equities research analysts anticipate that Intel Co. will post 4.89 EPS for the current fiscal year.
Several analysts have recently commented on the stock. 140166 raised their price objective on shares of Intel from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 21st. Truist reduced their price objective on shares of Intel from $61.00 to $51.00 in a research report on Friday, October 23rd. Cowen reduced their price target on shares of Intel from $55.00 to $50.00 and set a “market perform” rating for the company in a research report on Friday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Intel from $60.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, October 23rd. Finally, Royal Bank of Canada set a $40.00 target price on Intel and gave the stock a “sell” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and fifteen have issued a buy rating to the stock. Intel presently has an average rating of “Hold” and an average target price of $58.22.
Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.
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