Clear Harbor Asset Management LLC Acquires 74,422 Shares of Intel Co. (NASDAQ:INTC)

Clear Harbor Asset Management LLC lifted its stake in shares of Intel Co. (NASDAQ:INTC) by 212.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 109,479 shares of the chip maker’s stock after purchasing an additional 74,422 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Intel were worth $2,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. Perpetual Ltd purchased a new position in shares of Intel during the 4th quarter valued at $427,000. Bridgewater Advisors Inc. raised its holdings in shares of Intel by 61.3% in the 4th quarter. Bridgewater Advisors Inc. now owns 24,774 shares of the chip maker’s stock valued at $476,000 after acquiring an additional 9,414 shares in the last quarter. Diversify Wealth Management LLC purchased a new position in shares of Intel during the fourth quarter worth about $206,000. Ballast Inc. increased its position in shares of Intel by 26.5% in the fourth quarter. Ballast Inc. now owns 42,831 shares of the chip maker’s stock worth $859,000 after purchasing an additional 8,980 shares during the last quarter. Finally, Aaron Wealth Advisors LLC raised its stake in Intel by 3.1% in the fourth quarter. Aaron Wealth Advisors LLC now owns 20,595 shares of the chip maker’s stock valued at $413,000 after purchasing an additional 611 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Up 9.3 %

INTC opened at $21.49 on Tuesday. Intel Co. has a twelve month low of $18.51 and a twelve month 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. The firm has a 50 day moving average price of $21.55 and a 200-day moving average price of $23.27. The stock has a market capitalization of $92.69 billion, a price-to-earnings ratio of -5.78, a PEG ratio of 9.46 and a beta of 1.07.

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 return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the previous year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group decreased their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Robert W. Baird upped their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Bank of America reiterated an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Finally, Northland Securities lowered their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.88.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

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.