IVC Wealth Advisors LLC Acquires 3,116 Shares of Intel Co. (NASDAQ:INTC)

IVC Wealth Advisors LLC grew its stake in shares of Intel Co. (NASDAQ:INTC) by 21.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,373 shares of the chip maker’s stock after acquiring an additional 3,116 shares during the period. IVC Wealth Advisors LLC’s holdings in Intel were worth $348,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in INTC. Assenagon Asset Management S.A. boosted its stake in Intel by 264.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after purchasing an additional 14,227,458 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after acquiring an additional 12,865,308 shares during the period. Van ECK Associates Corp lifted its stake in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. 64.53% of the stock is owned by institutional investors.

Insider Buying and Selling

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 transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on INTC shares. Robert W. Baird boosted their target price on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday. Northland Securities cut their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Mizuho dropped their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Bank of America reaffirmed an “underperform” rating and set a $21.00 price target on shares of Intel in a research note on Tuesday, December 3rd. Five analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price of $28.81.

Intel Stock Performance

Shares of INTC stock opened at $21.57 on Friday. The firm has a market capitalization of $93.03 billion, a PE ratio of -5.80, a P/E/G ratio of 9.59 and a beta of 1.07. The company has a 50 day moving average price of $21.37 and a 200-day moving average price of $23.12. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, equities research analysts expect that Intel Co. will post -0.87 earnings per share for the current year.

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.