Profund Advisors LLC Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

Profund Advisors LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC – Get Rating) by 6.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,861 shares of the chip maker’s stock after selling 24,702 shares during the period. Intel accounts for 0.6% of Profund Advisors LLC’s portfolio, making the stock its 26th biggest holding. Profund Advisors LLC’s holdings in Intel were worth $9,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Apeiron RIA LLC bought a new position in shares of Intel in the second quarter worth approximately $26,000. Islay Capital Management LLC bought a new position in Intel in the 3rd quarter worth $26,000. Steward Financial Group LLC increased its stake in Intel by 667.0% in the 2nd quarter. Steward Financial Group LLC now owns 790 shares of the chip maker’s stock worth $29,000 after buying an additional 687 shares in the last quarter. Grayhawk Investment Strategies Inc. bought a new position in shares of Intel in the second quarter worth about $36,000. Finally, Lowe Wealth Advisors LLC lifted its holdings in Intel by 46.2% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 1,592 shares of the chip maker’s stock worth $41,000 after purchasing an additional 503 shares in the last quarter. 59.48% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intel news, Director Lip Bu Tan purchased 1,854 shares of the firm’s stock in a transaction on Friday, November 4th. The stock was bought at an average cost of $27.49 per share, for a total transaction of $50,966.46. Following the completion of the purchase, the director now owns 2,354 shares in the company, valued at approximately $64,711.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Patrick P. Gelsinger purchased 8,830 shares of the company’s stock in a transaction on Monday, October 31st. The shares were acquired at an average price of $28.16 per share, for a total transaction of $248,652.80. Following the purchase, the chief executive officer now owns 96,049 shares in the company, valued at $2,704,739.84. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lip Bu Tan acquired 1,854 shares of Intel stock in a transaction dated Friday, November 4th. The stock was purchased at an average price of $27.49 per share, with a total value of $50,966.46. Following the completion of the purchase, the director now owns 2,354 shares of the company’s stock, valued at $64,711.46. The disclosure for this purchase can be found here. Insiders have acquired a total of 58,830 shares of company stock worth $1,646,744 in the last ninety days. 0.02% of the stock is owned by insiders.

Intel Stock Down 2.3 %

Shares of INTC traded down $0.70 during trading hours on Wednesday, hitting $29.22. The company had a trading volume of 6,386,655 shares, compared to its average volume of 31,658,479. Intel Co. has a one year low of $24.59 and a one year high of $52.72. The company’s fifty day moving average price is $28.42 and its two-hundred day moving average price is $30.46. The company has a market capitalization of $120.59 billion, a PE ratio of 9.21, a price-to-earnings-growth ratio of 2.26 and a beta of 0.77. The company has a current ratio of 1.77, a quick ratio of 1.31 and a debt-to-equity ratio of 0.37.

Intel (NASDAQ:INTC – Get Rating) last announced its earnings results on Thursday, October 27th. The chip maker reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.25. The company had revenue of $15.34 billion during the quarter, compared to the consensus estimate of $15.49 billion. Intel had a net margin of 19.13% and a return on equity of 11.67%. As a group, equities analysts forecast that Intel Co. will post 1.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on INTC shares. Wells Fargo & Company reduced their price objective on shares of Intel from $45.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 11th. HSBC started coverage on shares of Intel in a report on Monday, October 24th. They set a “reduce” rating and a $23.00 price objective for the company. Morgan Stanley decreased their target price on Intel from $36.00 to $29.50 and set an “underweight” rating on the stock in a research report on Friday, October 28th. StockNews.com assumed coverage on shares of Intel in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, The Goldman Sachs Group set a $24.00 target price on shares of Intel in a report on Tuesday, December 13th. Ten equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $32.29.

Intel Company Profile

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Intel Corp. engages in the design, manufacture, and sale of computer products and technologies. It delivers computer, networking, data storage, and communications platforms. The firm operates through the following segments: Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Programmable Solutions (PSG), and All Other.