Hanson & Doremus Investment Management Reduces Stake in Intel Co. (NASDAQ:INTC)

Hanson & Doremus Investment Management lowered its position in shares of Intel Co. (NASDAQ:INTC) by 9.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,802 shares of the chip maker’s stock after selling 1,191 shares during the period. Hanson & Doremus Investment Management’s holdings in Intel were worth $237,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in shares of Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after acquiring an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Intel by 28.2% in 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 valued at $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp lifted 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 valued at $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in shares of Intel by 224.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after buying an additional 7,207,785 shares during the last quarter. Finally, State Street Corp raised its position in shares of Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated 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 directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut their target price 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. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Mizuho dropped their target price on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Citigroup lowered their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.88.

Intel Trading Down 0.2 %

NASDAQ INTC opened at $19.77 on Thursday. The stock’s 50 day moving average is $21.06 and its 200 day moving average is $22.65. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $85.25 billion, a PE ratio of -5.31, a P/E/G ratio of 9.72 and a beta of 1.07. Intel Co. has a twelve month low of $18.51 and a twelve month high of $46.63.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 analysts’ expectations of $13.02 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal 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.