Rockefeller Capital Management L.P. Acquires 118,750 Shares of Intel Co. (NASDAQ:INTC)

Rockefeller Capital Management L.P. raised its stake in Intel Co. (NASDAQ:INTC) by 9.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,353,347 shares of the chip maker’s stock after buying an additional 118,750 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Intel were worth $31,853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA raised its position in Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings 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 valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during 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 purchasing an additional 9,422,136 shares in the last quarter. Legal & General Group Plc boosted its holdings in Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after purchasing an additional 2,248,332 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, 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 filing with the SEC, which is available through this link. 0.04% of the stock is currently owned by insiders.

Intel Price Performance

Shares of NASDAQ INTC opened at $24.05 on Friday. The stock has a market capitalization of $103.73 billion, a PE ratio of -6.47 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 company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The business has a fifty day moving average price of $23.48 and a two-hundred day moving average price of $25.89.

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 the consensus estimate 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 the consensus estimate of $13.02 billion. During the same period in the prior year, the company earned $0.28 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on INTC shares. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Northland Securities dropped their target price on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Truist Financial boosted their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.12.

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.