Retirement Systems of Alabama Increases Stake in Intel Co. (NASDAQ:INTC)

Retirement Systems of Alabama lifted its stake in Intel Co. (NASDAQ:INTC) by 0.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 946,906 shares of the chip maker’s stock after buying an additional 7,857 shares during the quarter. Retirement Systems of Alabama’s holdings in Intel were worth $22,214,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Denver PWM LLC increased its holdings in Intel by 752.1% in the 3rd quarter. Denver PWM LLC now owns 26,425 shares of the chip maker’s stock valued at $620,000 after acquiring an additional 23,324 shares during the last quarter. World Investment Advisors LLC increased its holdings in shares of Intel by 59.6% in the third quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker’s stock worth $1,009,000 after purchasing an additional 16,046 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Intel by 7.3% in the third quarter. SOA Wealth Advisors LLC. now owns 9,076 shares of the chip maker’s stock worth $213,000 after buying an additional 615 shares in the last quarter. Advisory Resource Group boosted its stake in Intel by 6.7% during the third quarter. Advisory Resource Group now owns 16,579 shares of the chip maker’s stock valued at $389,000 after buying an additional 1,034 shares during the last quarter. Finally, Second Line Capital LLC purchased a new position in Intel during the 3rd quarter valued at approximately $236,000. Institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INTC. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. Northland Securities decreased their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. The Goldman Sachs Group dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $30.04.

Intel Price Performance

INTC opened at $20.34 on Friday. The company has a market capitalization of $87.73 billion, a price-to-earnings ratio of -5.47 and a beta of 1.05. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The business’s fifty day simple moving average is $23.12 and its 200-day simple moving average is $25.19.

Intel (NASDAQ:INTC) last issued its 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 for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the company earned $0.28 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. On average, equities research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.

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.