Evolution Wealth Advisors LLC Acquires New Position in Intel Co. (NASDAQ:INTC)

Evolution Wealth Advisors LLC purchased a new position in shares of Intel Co. (NASDAQ:INTC) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,215 shares of the chip maker’s stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its position in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC increased 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 worth $2,162,891,000 after purchasing an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp increased its position in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Finally, Legal & General Group Plc increased its position in Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INTC. Truist Financial upped their price target 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. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.81.

Intel Price Performance

Intel stock opened at $21.86 on Thursday. The firm’s 50-day moving average is $21.44 and its 200-day moving average is $23.13. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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 return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business posted $0.28 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, research analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

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.