Los Angeles Capital Management LLC Lowers Holdings in Intel Co. (NASDAQ:INTC)

Los Angeles Capital Management LLC decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 22.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,224 shares of the chip maker’s stock after selling 6,034 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Intel were worth $498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares during the period. Van ECK Associates Corp lifted its holdings in shares of 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 acquiring an additional 9,422,136 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Intel by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on INTC shares. Northland Securities lowered their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald dropped their target price on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Wedbush dropped their price objective 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. Finally, StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.12.

Insiders Place Their Bets

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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by insiders.

Intel Price Performance

Shares of NASDAQ INTC opened at $24.35 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The company has a market cap of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03. The stock has a fifty day moving average price of $22.69 and a 200 day moving average price of $26.36. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last issued its 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 during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. Sell-side analysts forecast that Intel Co. will post -0.83 EPS for the current year.

Intel 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.