Birchcreek Wealth Management LLC Boosts Position in Intel Co. (NASDAQ:INTC)

Birchcreek Wealth Management LLC boosted its position in shares of Intel Co. (NASDAQ:INTC) by 2.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 31,488 shares of the chip maker’s stock after purchasing an additional 852 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in Intel were worth $739,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in INTC. Vanguard Group Inc. boosted its position in shares of Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after buying an additional 3,310,528 shares during the period. Capital International Investors lifted its holdings in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA raised its position in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. Van ECK Associates Corp boosted its stake in Intel by 27.2% during the 3rd 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after purchasing an additional 2,457,243 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on INTC shares. Susquehanna decreased their price target on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Morgan Stanley decreased their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Roth Mkm dropped their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Six equities research 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. According to MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

Shares of NASDAQ INTC traded down $0.42 during mid-day trading on Friday, hitting $24.61. 4,123,495 shares of the company’s stock traded hands, compared to its average volume of 59,833,109. The company’s 50-day moving average is $22.47 and its two-hundred day moving average is $26.42. 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 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) 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 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 prior year, the business posted $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Intel Co. will post -0.83 EPS for the current year.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

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.