Nordea Investment Management AB Grows Stock Holdings in Intel Co. (NASDAQ:INTC)

Nordea Investment Management AB raised its stake in shares of Intel Co. (NASDAQ:INTC) by 6.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 349,657 shares of the chip maker’s stock after acquiring an additional 19,895 shares during the period. Nordea Investment Management AB’s holdings in Intel were worth $7,028,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new position in Intel in the 2nd quarter valued at $2,178,000. Geode Capital Management LLC raised its holdings 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Swiss National Bank raised its stake in shares of Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares in the last quarter. Finally, SGL Investment Advisors Inc. purchased a new stake in shares of Intel in the third quarter valued at approximately $2,365,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Price Performance

INTC stock opened at $19.88 on Friday. The company has a market capitalization of $85.74 billion, a PE ratio of -5.34 and a beta of 1.07. 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 stock’s 50 day moving average is $22.12 and its two-hundred day moving average is $23.83. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. Analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on INTC. Bank of America reissued an “underperform” rating and issued a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. 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. Robert W. Baird lifted their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Truist Financial raised their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and an average price target of $30.04.

Insider Transactions at Intel

In related 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 sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Company 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.