Intel Co. (NASDAQ:INTC) Shares Sold by Plato Investment Management Ltd

Plato Investment Management Ltd reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 35.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 53,803 shares of the chip maker’s stock after selling 29,207 shares during the quarter. Plato Investment Management Ltd’s holdings in Intel were worth $1,261,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of INTC. Capital International Investors raised its position in shares of 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 purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp raised its holdings in Intel by 60.5% in the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after acquiring an additional 13,035,566 shares during the last quarter. Davis Selected Advisers raised its holdings in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Caxton Associates LP acquired a new position in Intel in the 2nd quarter valued at $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Intel by 2,681.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after acquiring an additional 4,272,395 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INTC has been the subject of several analyst reports. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. TD Cowen upgraded Intel to a “hold” rating in a report on Monday, September 16th. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Finally, Benchmark restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $30.12.

Intel Price Performance

NASDAQ:INTC opened at $25.03 on Friday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The stock has a 50-day simple moving average of $22.47 and a 200 day simple moving average of $26.42. 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 (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS 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 analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.28 earnings per share. Sell-side analysts forecast that Intel Co. will post -0.83 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred 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 owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was 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.

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.