Glenmede Trust Co. NA Decreases Stake in Intel Co. (NASDAQ:INTC)

Glenmede Trust Co. NA trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 10.4% during the third quarter, Holdings Channel reports. The institutional investor owned 1,168,687 shares of the chip maker’s stock after selling 135,838 shares during the quarter. Glenmede Trust Co. NA’s holdings in Intel were worth $27,417,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Primecap Management Co. CA lifted 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 last quarter. Van ECK Associates Corp increased its holdings in shares of Intel by 27.2% in 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 acquiring an additional 9,422,136 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after acquiring an additional 487,191 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Intel by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after acquiring an additional 2,248,332 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Intel by 2.8% during the second quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock worth $759,127,000 after purchasing an additional 656,583 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

NASDAQ:INTC opened at $23.65 on Thursday. The firm has a market cap of $102.00 billion, a price-to-earnings ratio of -6.36 and a beta of 1.03. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average is $23.38 and its two-hundred day moving average is $25.99.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. Research analysts expect that Intel Co. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on INTC. Truist Financial boosted their price objective 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. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Robert W. Baird raised their price target on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Six 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.12.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.04% of the company’s stock.

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.