Franklin Resources Inc. Lowers Holdings in Intel Co. (NASDAQ:INTC)

Franklin Resources Inc. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 57.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,711,182 shares of the chip maker’s stock after selling 3,629,011 shares during the quarter. Franklin Resources Inc. owned about 0.06% of Intel worth $63,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the 2nd quarter worth about $2,178,000. Geode Capital Management LLC raised its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares during the period. Swiss National Bank lifted its stake in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares during the last quarter. SGL Investment Advisors Inc. purchased a new position in shares of Intel in the 3rd quarter worth approximately $2,365,000. Finally, Benjamin Edwards Inc. increased its position in shares of Intel by 35,983.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 32,836 shares of the chip maker’s stock valued at $770,000 after purchasing an additional 32,745 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price target (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Northland Securities dropped their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Truist Financial increased their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Mizuho boosted their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Daiwa America upgraded Intel to a “hold” rating in a report on Monday, August 26th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.04.

Insider Transactions 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 transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Trading Up 2.4 %

Shares of NASDAQ INTC opened at $20.83 on Tuesday. The business has a fifty day moving average price of $23.09 and a 200 day moving average price of $25.09. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. 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 stock has a market capitalization of $89.84 billion, a P/E ratio of -5.60 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 29.42% and a negative return on equity of 1.71%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities research analysts expect that Intel Co. will post -0.87 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.