Marco Investment Management LLC Cuts Stake in Intel Co. (NASDAQ:INTC)

Marco Investment Management LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 4.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 168,985 shares of the chip maker’s stock after selling 8,300 shares during the quarter. Marco Investment Management LLC’s holdings in Intel were worth $3,964,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in INTC. Primecap Management Co. CA boosted its holdings in Intel by 2.2% during 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 acquiring an additional 1,697,550 shares during the period. Van ECK Associates Corp boosted its stake in shares of 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 during the period. Legal & General Group Plc grew its holdings in shares of Intel by 1.3% in 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. Charles Schwab Investment Management Inc. increased its stake in shares of Intel by 7.6% in 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 buying an additional 2,248,332 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Intel by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock valued at $759,127,000 after buying an additional 656,583 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Shares of NASDAQ:INTC opened at $24.50 on Friday. The business has a fifty day moving average price of $23.19 and a 200-day moving average price of $26.11. 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 capitalization of $105.67 billion, a PE ratio of -6.59 and a beta of 1.03. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.28 earnings per share. As a group, equities analysts expect that Intel Co. will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on INTC shares. The Goldman Sachs Group cut their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Daiwa America upgraded Intel to a “hold” rating in a report on Monday, August 26th. Roth Mkm dropped their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Finally, Barclays decreased their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.12.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction 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 at the SEC website. 0.04% of the stock is owned by company insiders.

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.