Gries Financial LLC Grows Stake in Intel Co. (NASDAQ:INTC)

Gries Financial LLC lifted its stake in Intel Co. (NASDAQ:INTC) by 43.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,648 shares of the chip maker’s stock after buying an additional 5,652 shares during the period. Gries Financial LLC’s holdings in Intel were worth $374,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Assenagon Asset Management S.A. boosted its stake in shares of Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after purchasing an additional 14,227,458 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp boosted its position in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Intel by 224.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after acquiring an additional 7,207,785 shares in the last quarter. Finally, State Street Corp increased its position in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Rosenblatt Securities reissued a “sell” rating and issued a $20.00 price target on shares of Intel in a report on Thursday. Barclays decreased their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Mizuho cut their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Bank of America reissued an “underperform” rating and set a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Finally, Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Intel currently has a consensus rating of “Hold” and an average target price of $28.00.

Intel Stock Performance

Shares of NASDAQ INTC opened at $20.01 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $46.63. The company has a market cap of $86.30 billion, a PE ratio of -5.38, a P/E/G ratio of 9.72 and a beta of 1.07. The stock has a 50 day simple moving average of $20.97 and a 200-day simple moving average of $22.63. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. On average, equities research analysts forecast that Intel Co. will post -0.87 EPS for the current 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.