Allspring Global Investments Holdings LLC Has $13.55 Million Stock Position in Intel Co. (NASDAQ:INTC)

Allspring Global Investments Holdings LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC – Get Rating) by 26.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 526,022 shares of the chip maker’s stock after selling 187,421 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Intel were worth $13,554,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Butensky & Cohen Financial Security Inc. raised its holdings in shares of Intel by 12.4% in the third quarter. Butensky & Cohen Financial Security Inc. now owns 97,399 shares of the chip maker’s stock valued at $2,510,000 after purchasing an additional 10,758 shares during the last quarter. Carnegie Capital Asset Management LLC boosted its position in Intel by 38.4% during the second quarter. Carnegie Capital Asset Management LLC now owns 67,350 shares of the chip maker’s stock worth $3,782,000 after purchasing an additional 18,685 shares during the period. Private Advisor Group LLC boosted its position in shares of Intel by 5.9% in the second quarter. Private Advisor Group LLC now owns 487,358 shares of the chip maker’s stock valued at $18,232,000 after acquiring an additional 26,944 shares during the period. Martin & Co. Inc. TN boosted its position in shares of Intel by 1.7% in the third quarter. Martin & Co. Inc. TN now owns 24,335 shares of the chip maker’s stock valued at $627,000 after acquiring an additional 402 shares during the period. Finally, AdvisorNet Financial Inc boosted its position in shares of Intel by 6.3% in the third quarter. AdvisorNet Financial Inc now owns 40,942 shares of the chip maker’s stock valued at $1,055,000 after acquiring an additional 2,422 shares during the period. 59.48% of the stock is currently owned by institutional investors and hedge funds.

Intel Price Performance

Shares of Intel stock opened at $30.29 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.77 and a quick ratio of 1.31. The business’s 50 day simple moving average is $28.37 and its two-hundred day simple moving average is $30.99. The stock has a market capitalization of $125.01 billion, a P/E ratio of 9.32, a price-to-earnings-growth ratio of 2.02 and a beta of 0.77. Intel Co. has a one year low of $24.59 and a one year high of $56.21.

Intel (NASDAQ:INTC – Get Rating) last posted its earnings results on Thursday, October 27th. The chip maker reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.25. Intel had a return on equity of 11.67% and a net margin of 19.13%. The firm had revenue of $15.34 billion for the quarter, compared to analysts’ expectations of $15.49 billion. Analysts forecast that Intel Co. will post 1.95 EPS for the current year.

Analysts Set New Price Targets

INTC has been the subject of several recent analyst reports. Roth Capital cut their price objective on shares of Intel from $40.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, October 28th. Mizuho reaffirmed a “neutral” rating and issued a $32.00 price objective on shares of Intel in a research note on Tuesday, November 22nd. Cowen started coverage on Intel in a report on Monday, November 21st. They issued a “market perform” rating and a $31.00 target price on the stock. Sanford C. Bernstein set a $23.00 target price on Intel in a report on Monday, December 19th. Finally, Truist Financial reduced their target price on Intel from $40.00 to $29.00 and set a “hold” rating on the stock in a report on Friday, October 28th. Nine analysts have rated the stock with a sell rating, nineteen have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $32.71.

Insiders Place Their Bets

In related news, Director Lip Bu Tan bought 48,146 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were acquired at an average cost of $27.98 per share, with a total value of $1,347,125.08. Following the completion of the acquisition, the director now owns 50,500 shares of the company’s stock, valued at approximately $1,412,990. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Patrick P. Gelsinger acquired 8,830 shares of Intel stock in a transaction that occurred on Monday, October 31st. The stock was bought at an average price of $28.16 per share, for a total transaction of $248,652.80. Following the completion of the transaction, the chief executive officer now owns 96,049 shares in the company, valued at $2,704,739.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lip Bu Tan acquired 48,146 shares of Intel stock in a transaction that occurred on Tuesday, November 8th. The shares were purchased at an average price of $27.98 per share, with a total value of $1,347,125.08. Following the transaction, the director now owns 50,500 shares of the company’s stock, valued at approximately $1,412,990. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 58,830 shares of company stock valued at $1,646,744. 0.02% of the stock is currently owned by corporate insiders.

Intel Company Profile

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Intel Corporation engages in the design, manufacture, and sale of computer products and technologies worldwide. The company operates through CCG, DCG, IOTG, Mobileye, NSG, PSG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products, including accelerators, boards and systems, connectivity products, graphics, and memory and storage products.