Vista Capital Partners Inc. Cuts Holdings in Intel Co. (NASDAQ:INTC)

by · The Markets Daily

Vista Capital Partners Inc. decreased its holdings in Intel Co. (NASDAQ:INTC – Free Report) by 5.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,697 shares of the chip maker’s stock after selling 1,172 shares during the period. Vista Capital Partners Inc.’s holdings in Intel were worth $486,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Intel by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after buying an additional 3,310,528 shares during the last quarter. Capital International Investors raised its holdings in shares of Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA lifted its position in Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. Van ECK Associates Corp boosted its holdings in Intel by 27.2% in 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, Price T Rowe Associates Inc. MD boosted its holdings in Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after purchasing an additional 2,457,243 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the topic of a number of research reports. The Goldman Sachs Group dropped their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Morgan Stanley cut their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Roth Mkm dropped their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Wedbush reduced their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six investment 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. According to MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus target price of $30.12.

Read Our Latest Analysis on Intel

Intel Stock Performance

NASDAQ:INTC opened at $26.23 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The company has a market cap of $113.13 billion, a price-to-earnings ratio of -7.05 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The stock’s 50 day simple moving average is $22.01 and its two-hundred day simple moving average is $26.72.

Intel (NASDAQ:INTC – Get Free Report) last released 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 net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the previous year, the company earned $0.28 EPS. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

About Intel

(Free Report)

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.

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