CIBC Asset Management Inc Acquires 76,855 Shares of Intel Co. (NASDAQ:INTC)

CIBC Asset Management Inc raised its stake in shares of Intel Co. (NASDAQ:INTC) by 6.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,324,899 shares of the chip maker’s stock after acquiring an additional 76,855 shares during the period. CIBC Asset Management Inc’s holdings in Intel were worth $31,082,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. America First Investment Advisors LLC bought a new stake in shares of Intel in the second quarter worth $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. purchased a new stake in shares of Intel during the 2nd quarter valued at about $31,000. Financial Connections Group Inc. bought a new position in shares of Intel in the 2nd quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Intel in the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

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

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on INTC shares. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Argus cut Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group decreased their price objective on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Finally, Wedbush lowered their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and an average price target of $30.12.

Intel Price Performance

NASDAQ INTC opened at $24.35 on Friday. The company has a market cap of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03. The firm’s 50 day moving average price is $22.58 and its 200-day moving average price is $26.41. 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 announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period last year, the business posted $0.28 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Sell-side analysts forecast that Intel Co. will post -0.83 EPS for the current fiscal year.

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.