Empowered Funds LLC Buys 79,169 Shares of Intel Co. (NASDAQ:INTC)

Empowered Funds LLC lifted its stake in Intel Co. (NASDAQ:INTC) by 21.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 454,788 shares of the chip maker’s stock after buying an additional 79,169 shares during the period. Empowered Funds LLC’s holdings in Intel were worth $10,669,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Empirical Finance LLC increased its position in shares of Intel by 2.3% during the third quarter. Empirical Finance LLC now owns 144,928 shares of the chip maker’s stock valued at $3,400,000 after purchasing an additional 3,276 shares during the period. CIBC Asset Management Inc boosted its stake in Intel by 6.2% during the third quarter. CIBC Asset Management Inc now owns 1,324,899 shares of the chip maker’s stock worth $31,082,000 after buying an additional 76,855 shares in the last quarter. Balboa Wealth Partners increased its holdings in Intel by 16.0% in the 3rd quarter. Balboa Wealth Partners now owns 24,883 shares of the chip maker’s stock valued at $584,000 after buying an additional 3,435 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Intel by 8.8% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 118,197 shares of the chip maker’s stock valued at $2,773,000 after buying an additional 9,532 shares in the last quarter. Finally, Metis Global Partners LLC boosted its position in shares of Intel by 5.1% during the 3rd quarter. Metis Global Partners LLC now owns 222,628 shares of the chip maker’s stock valued at $5,223,000 after acquiring an additional 10,792 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 weighed in on INTC shares. Morgan Stanley lowered their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird lifted their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $30.12.

Intel Trading Down 2.7 %

NASDAQ INTC opened at $24.35 on Friday. 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 fifty-two week low of $18.51 and a fifty-two week high of $51.28. The stock has a market cap of $105.02 billion, a P/E ratio of -6.55 and a beta of 1.03. The stock has a 50 day simple moving average of $22.69 and a two-hundred day simple moving average of $26.36.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for 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%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.28 EPS. On average, analysts forecast that Intel Co. will post -0.83 earnings per share for the current 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.