BNC Wealth Management LLC Increases Stock Holdings in Intel Co. (NASDAQ:INTC)

BNC Wealth Management LLC grew its holdings in shares of Intel Co. (NASDAQ:INTC) by 12.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,534 shares of the chip maker’s stock after purchasing an additional 1,516 shares during the period. BNC Wealth Management LLC’s holdings in Intel were worth $318,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Capital International Investors increased its stake in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the period. Van ECK Associates Corp grew its stake in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares in the last quarter. Davis Selected Advisers increased its position in shares of Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the period. Caxton Associates LP acquired a new stake in shares of Intel in the second quarter valued at $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after acquiring an additional 4,272,395 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

Shares of INTC opened at $25.05 on Thursday. The company 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 fifty-two week low of $18.51 and a fifty-two week high of $51.28. The firm has a 50-day simple moving average of $22.01 and a 200-day simple moving average of $26.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. On average, equities research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group reduced their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, Roth Mkm decreased their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.12.

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.