Clear Harbor Asset Management LLC Boosts Holdings in Intel Co. (NASDAQ:INTC)

Clear Harbor Asset Management LLC raised its stake in shares of Intel Co. (NASDAQ:INTC) by 212.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 109,479 shares of the chip maker’s stock after acquiring an additional 74,422 shares during the period. Clear Harbor Asset Management LLC’s holdings in Intel were worth $2,195,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Truist Financial upped their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Bank of America reiterated an “underperform” rating and issued a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Mizuho decreased their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Northland Securities decreased their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $29.88.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Up 9.3 %

Intel stock opened at $21.49 on Tuesday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30. The firm has a market cap of $92.69 billion, a price-to-earnings ratio of -5.78, a price-to-earnings-growth ratio of 9.46 and a beta of 1.07. The business’s 50-day moving average price is $21.55 and its 200 day moving average price is $23.27. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 return on equity of 1.71% and a negative net margin of 29.42%. 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 business earned $0.28 EPS. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Intel Co. will post -0.87 earnings per share 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.