Empirical Finance LLC Acquires 3,276 Shares of Intel Co. (NASDAQ:INTC)

Empirical Finance LLC grew its stake in Intel Co. (NASDAQ:INTC) by 2.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,928 shares of the chip maker’s stock after buying an additional 3,276 shares during the quarter. Empirical Finance LLC’s holdings in Intel were worth $3,400,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. William B. Walkup & Associates Inc. bought a new stake in Intel in the 2nd quarter valued at $2,178,000. Fortis Group Advisors LLC lifted its stake in shares of Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after buying an additional 157,991 shares during the last quarter. Mizuho Securities Co. Ltd. grew its stake in Intel by 2,910.4% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after buying an additional 27,940 shares during the last quarter. Private Advisory Group LLC bought a new stake in shares of Intel during the third quarter worth approximately $8,045,000. Finally, Tyler Stone Wealth Management grew its position in shares of Intel by 105.4% in the third quarter. Tyler Stone Wealth Management now owns 41,276 shares of the chip maker’s stock valued at $968,000 after purchasing an additional 21,177 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Trading Down 1.2 %

NASDAQ:INTC opened at $24.72 on Friday. The stock’s 50 day moving average price is $22.47 and its 200 day moving average price is $26.42. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, sell-side analysts predict that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the subject of several research analyst reports. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Truist Financial lifted their target price on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Northland Securities dropped their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. decreased their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.12.

Intel Company Profile

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.