Linscomb Wealth Inc. Decreases Stake in Intel Co. (NASDAQ:INTC)

Linscomb Wealth Inc. lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 21,805 shares of the chip maker’s stock after selling 1,006 shares during the period. Linscomb Wealth Inc.’s holdings in Intel were worth $963,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Intel by 0.9% in 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 acquiring an additional 3,310,528 shares during the period. Capital International Investors increased its holdings in shares of Intel by 16.0% in the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Primecap Management Co. CA increased its holdings in shares of Intel by 0.6% in the fourth quarter. Primecap Management Co. CA now owns 75,237,927 shares of the chip maker’s stock valued at $3,780,706,000 after purchasing an additional 475,636 shares during the period. Norges Bank purchased a new position in shares of Intel in the fourth quarter worth about $2,424,202,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 543.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after purchasing an additional 31,575,084 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wolfe Research raised shares of Intel from an “underperform” rating to a “peer perform” rating in a research report on Thursday, May 16th. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research report on Wednesday. Morgan Stanley lowered their price target on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Susquehanna reduced their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Finally, HSBC decreased their price objective on Intel from $44.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday, April 23rd. Four investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Intel presently has an average rating of “Hold” and an average target price of $39.25.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 4,100 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average cost of $30.29 per share, with a total value of $124,189.00. Following the purchase, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Intel news, CEO Patrick P. Gelsinger acquired 4,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was bought at an average cost of $31.42 per share, for a total transaction of $125,680.00. Following the completion of the transaction, the chief executive officer now owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Patrick P. Gelsinger bought 4,100 shares of Intel stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, for a total transaction of $124,189.00. Following the transaction, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Intel Price Performance

NASDAQ INTC traded up $0.25 during trading hours on Friday, hitting $31.35. 38,352,543 shares of the company’s stock traded hands, compared to its average volume of 52,697,092. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The firm’s 50-day moving average is $31.63 and its 200-day moving average is $37.43. Intel Co. has a 52-week low of $29.73 and a 52-week high of $51.28. The company has a market capitalization of $133.46 billion, a PE ratio of 32.66, a PEG ratio of 18.61 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, April 25th. The chip maker reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). Intel had a net margin of 7.36% and a return on equity of 2.19%. The company had revenue of $12.72 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Equities analysts forecast that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel 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.