Bedell Frazier Investment Counselling LLC Makes New Investment in Intel Co. (NASDAQ:INTC)

Bedell Frazier Investment Counselling LLC acquired a new position in shares of Intel Co. (NASDAQ:INTC) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,835 shares of the chip maker’s stock, valued at approximately $207,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. William B. Walkup & Associates Inc. purchased a new position in Intel during the 2nd quarter worth $2,178,000. Swiss National Bank grew its position in Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after purchasing an additional 31,800 shares during the last quarter. Fortis Group Advisors LLC grew its position in Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the last quarter. Mizuho Securities Co. Ltd. grew its position in Intel by 2,910.4% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock worth $678,000 after purchasing an additional 27,940 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Intel by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after acquiring an additional 2,248,332 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related 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 transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $24.50 on Monday. The firm has a 50 day simple moving average of $23.19 and a 200-day simple moving average of $26.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

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 firm 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 business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. On average, equities research analysts anticipate that Intel Co. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho raised their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Stifel Nicolaus restated a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Wedbush reduced their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Roth Mkm reduced their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.