BNP Paribas Trims Stake in Intel Co. (NASDAQ:INTC)

BNP Paribas trimmed its stake in Intel Co. (NASDAQ:INTC) by 18.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 14,338 shares of the chip maker’s stock after selling 3,140 shares during the period. BNP Paribas’ holdings in Intel were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Intel by 4.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,624,859 shares of the chip maker’s stock worth $108,499,000 after purchasing an additional 193,110 shares in the last quarter. Blueshift Asset Management LLC increased its stake in Intel by 118.2% in the 3rd quarter. Blueshift Asset Management LLC now owns 67,934 shares of the chip maker’s stock worth $1,594,000 after buying an additional 36,798 shares in the last quarter. Townsquare Capital LLC increased its stake in Intel by 2.7% in the 3rd quarter. Townsquare Capital LLC now owns 61,109 shares of the chip maker’s stock worth $1,434,000 after buying an additional 1,633 shares in the last quarter. Shum Financial Group Inc. purchased a new stake in Intel in the 3rd quarter worth $213,000. Finally, Quantbot Technologies LP purchased a new stake in Intel in the 3rd quarter worth $3,682,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of analyst reports. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price target on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Morgan Stanley cut their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Barclays cut their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Six 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 stock currently has a consensus rating of “Hold” and a consensus price target of $30.12.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Down 1.7 %

Shares of NASDAQ INTC opened at $23.65 on Thursday. 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 company has a market cap of $102.00 billion, a P/E ratio of -6.36 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm has a 50-day simple moving average of $23.38 and a two-hundred day simple moving average of $25.99.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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). The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.28 EPS. Research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

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.