Balboa Wealth Partners Grows Holdings in Intel Co. (NASDAQ:INTC)

Balboa Wealth Partners lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 16.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 24,883 shares of the chip maker’s stock after acquiring an additional 3,435 shares during the period. Balboa Wealth Partners’ holdings in Intel were worth $584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. Vanguard Group Inc. grew its holdings 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 grew its position in shares of Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA grew its holdings in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after purchasing an additional 1,697,550 shares during the last quarter. Van ECK Associates Corp increased its position in 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 during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings 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 during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Cantor Fitzgerald reduced their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Morgan Stanley decreased their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Finally, Wedbush dropped their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. 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 company’s stock. According to data from MarketBeat, Intel has an average rating of “Hold” and an average target price of $30.12.

Intel Trading Up 0.4 %

NASDAQ:INTC opened at $25.03 on Friday. The stock’s 50-day simple moving average is $22.47 and its 200 day simple moving average is $26.42. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. 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 released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. On average, analysts forecast that Intel Co. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

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

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.