M&G Plc Increases Stock Holdings in Intel Co. (NASDAQ:INTC)

M&G Plc boosted its holdings in shares of Intel Co. (NASDAQ:INTC) by 54.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,447,922 shares of the chip maker’s stock after acquiring an additional 1,923,459 shares during the quarter. M&G Plc owned 0.13% of Intel worth $125,302,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in Intel by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after purchasing an additional 3,310,528 shares in the last quarter. Capital International Investors raised its position in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after acquiring an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA raised its position 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 worth $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. Van ECK Associates Corp raised its position 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of 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 worth $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on INTC shares. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. UBS Group dropped their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Truist Financial boosted their target price on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

NASDAQ INTC opened at $25.05 on Thursday. The stock has a market capitalization of $108.04 billion, a price-to-earnings ratio of -6.73 and a beta of 1.03. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The stock has a 50-day moving average of $22.01 and a 200 day moving average of $26.72.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the company earned $0.28 EPS. Intel’s revenue was down 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Intel Co. will post -0.47 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.