Blueshift Asset Management LLC Raises Position in Intel Co. (NASDAQ:INTC)

Blueshift Asset Management LLC raised its position in Intel Co. (NASDAQ:INTC - Free Report) by 118.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 67,934 shares of the chip maker's stock after acquiring an additional 36,798 shares during the period. Blueshift Asset Management LLC's holdings in Intel were worth $1,594,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. America First Investment Advisors LLC purchased a new position in shares of Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel during the 2nd quarter valued at $27,000. Quest Partners LLC raised its stake in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker's stock valued at $30,000 after purchasing an additional 1,253 shares during the period. Spartan Fund Management Inc. bought a new stake in shares of Intel during the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. bought a new position in Intel in the 2nd quarter worth about $32,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Trading Down 1.7 %

Shares of INTC traded down $0.40 during trading hours on Wednesday, reaching $23.65. 53,857,178 shares of the company traded hands, compared to its average volume of 60,013,273. The company's fifty day moving average price is $23.32 and its two-hundred day moving average price is $26.00. The company has a market capitalization of $102.00 billion, a price-to-earnings ratio of -6.27 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 1.31 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.

Intel (NASDAQ:INTC - Get Free Report) last announced its 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). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the firm posted $0.28 EPS. The company's revenue for the quarter was down 6.3% on a year-over-year basis. Equities research analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on INTC. StockNews.com lowered Intel from a "hold" rating to a "sell" rating in a report on Friday, August 9th. Wedbush decreased their price target on shares of Intel from $32.50 to $25.00 and set a "neutral" rating on the stock in a report on Friday, August 2nd. Bank of America downgraded shares of Intel from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Benchmark reiterated 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 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. According to MarketBeat.com, the company presently 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 business's stock in a transaction dated Thursday, November 7th. The shares were 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 of the company's stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.04% of the stock is currently owned by 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.