Principal Financial Group Inc. Purchases 204,200 Shares of Intel Co. (NASDAQ:INTC)

Principal Financial Group Inc. increased its position in Intel Co. (NASDAQ:INTC) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,827,123 shares of the chip maker’s stock after acquiring an additional 204,200 shares during the quarter. Principal Financial Group Inc.’s holdings in Intel were worth $113,244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTC. Family Firm Inc. acquired a new position in shares of Intel during the second quarter worth approximately $80,000. Institute for Wealth Management LLC. raised its stake in Intel by 43.6% during the 2nd quarter. Institute for Wealth Management LLC. now owns 18,732 shares of the chip maker’s stock valued at $580,000 after purchasing an additional 5,691 shares during the last quarter. Calamos Wealth Management LLC boosted its holdings in Intel by 10.0% in the 2nd quarter. Calamos Wealth Management LLC now owns 31,816 shares of the chip maker’s stock valued at $985,000 after purchasing an additional 2,900 shares during the period. Tempus Wealth Planning LLC grew its position in Intel by 20.4% in the 2nd quarter. Tempus Wealth Planning LLC now owns 10,508 shares of the chip maker’s stock worth $325,000 after purchasing an additional 1,781 shares during the last quarter. Finally, AMG National Trust Bank increased its holdings in shares of Intel by 8.4% during the 2nd quarter. AMG National Trust Bank now owns 49,056 shares of the chip maker’s stock worth $1,519,000 after purchasing an additional 3,795 shares during the period. Institutional investors and hedge funds 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 firm’s stock in a transaction dated Thursday, November 7th. The shares were 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 approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the subject of several research reports. The Goldman Sachs Group reduced their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Bank of America reiterated an “underperform” rating and issued a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Stifel Nicolaus reissued a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Mizuho upped their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a research note 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. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.04.

Intel Stock Up 2.4 %

Shares of NASDAQ INTC opened at $19.52 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The firm’s 50-day simple moving average is $22.78 and its 200 day simple moving average is $24.86. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $84.19 billion, a price-to-earnings ratio of -5.25 and a beta of 1.05.

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 analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, research analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal 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.