Massachusetts Financial Services Co. MA Acquires 910,345 Shares of Intel Co. (NASDAQ:INTC)

Massachusetts Financial Services Co. MA grew its holdings in Intel Co. (NASDAQ:INTC) by 12.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,095,962 shares of the chip maker’s stock after purchasing an additional 910,345 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Intel were worth $189,931,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of INTC. Van ECK Associates Corp boosted its holdings in shares of 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 buying an additional 13,035,566 shares in the last quarter. Davis Selected Advisers boosted its stake in Intel by 86.2% in the second 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 in the last quarter. Caxton Associates LP purchased a new position in Intel in the second quarter worth $162,592,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Intel by 2,681.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 shares in the last quarter. Finally, Swedbank AB purchased a new stake in shares of Intel during the 1st quarter valued at $164,002,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s 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 transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

INTC has been the topic of several recent analyst reports. Mizuho upped 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. Roth Mkm cut their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Susquehanna cut their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley lowered their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.12.

Intel Price Performance

Shares of NASDAQ INTC opened at $24.50 on Friday. The firm has a market cap of $105.67 billion, a PE ratio of -6.59 and a beta of 1.03. The firm has a fifty day moving average of $23.19 and a 200 day moving average of $26.14. 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 one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last issued 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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. As a group, research analysts predict that Intel Co. will post -0.83 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.