Penserra Capital Management LLC Sells 485,641 Shares of Intel Co. (NASDAQ:INTC)

Penserra Capital Management LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 74.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,812 shares of the chip maker’s stock after selling 485,641 shares during the quarter. Penserra Capital Management LLC’s holdings in Intel were worth $4,006,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in INTC. Primecap Management Co. CA increased its stake in Intel by 2.2% in 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 acquiring an additional 1,697,550 shares during the period. Van ECK Associates Corp boosted its holdings in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares during the period. Charles Schwab Investment Management Inc. raised its holdings 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 buying an additional 2,248,332 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Intel by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock worth $759,127,000 after buying an additional 656,583 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’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 in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of several recent analyst reports. Cantor Fitzgerald dropped their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

Shares of INTC stock opened at $24.87 on Tuesday. The firm has a market capitalization of $107.26 billion, a price-to-earnings ratio of -6.69 and a beta of 1.03. Intel Co. has a 12-month low of $18.51 and a 12-month 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. The firm has a fifty day moving average of $23.27 and a 200-day moving average of $26.05.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) 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 business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the company earned $0.28 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Intel Co. will post -0.83 earnings per share for the current year.

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.