Intel Co. (NASDAQ:INTC) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 19.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 320,660 shares of the chip maker’s stock after selling 75,986 shares during the period. Penserra Capital Management LLC’s holdings in Intel were worth $10,721,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Intel by 98,521.3% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 178,121,843 shares of the chip maker’s stock valued at $5,956,394,000 after purchasing an additional 177,941,231 shares during the last quarter. Moneta Group Investment Advisors LLC grew its stake in shares of Intel by 100,953.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock worth $1,351,468,000 after purchasing an additional 51,083,262 shares in the last quarter. Norges Bank purchased a new position in Intel in the fourth quarter valued at $1,092,939,000. Parnassus Investments LLC acquired a new stake in Intel in the second quarter valued at $626,573,000. Finally, Clearbridge Investments LLC lifted its holdings in Intel by 4,407.3% during the 1st quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after buying an additional 16,074,485 shares during the last quarter. 60.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger purchased 6,775 shares of Intel stock in a transaction on Wednesday, November 1st. The shares were bought at an average price of $36.80 per share, with a total value of $249,320.00. Following the purchase, the chief executive officer now directly owns 25,475 shares in the company, valued at approximately $937,480. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley increased their price objective on Intel from $35.00 to $39.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Intel from $32.00 to $38.00 and gave the stock a “hold” rating in a report on Friday, July 28th. Tigress Financial lowered their target price on shares of Intel from $72.00 to $46.00 and set a “buy” rating for the company in a report on Friday, August 4th. Bank of America lifted their price target on shares of Intel from $32.00 to $35.00 in a research note on Tuesday, October 10th. Finally, Northland Securities boosted their target price on Intel from $45.00 to $56.00 and gave the company an “outperform” rating in a report on Wednesday, October 4th. Four equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $35.53.

Intel Price Performance

NASDAQ INTC traded down $0.88 during mid-day trading on Tuesday, hitting $43.86. The stock had a trading volume of 4,927,026 shares, compared to its average volume of 41,996,395. Intel Co. has a 52-week low of $24.73 and a 52-week high of $44.93. The company has a market cap of $184.91 billion, a price-to-earnings ratio of -111.85, a P/E/G ratio of 15.13 and a beta of 0.88. The company has a 50 day simple moving average of $36.83 and a 200 day simple moving average of $34.46. The company has a quick ratio of 1.13, a current ratio of 1.53 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 26th. The chip maker reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.20. The firm had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $13.57 billion. Intel had a positive return on equity of 0.49% and a negative net margin of 3.11%. Intel’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. Equities analysts forecast that Intel Co. will post 0.19 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Tuesday, November 7th will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Monday, November 6th. Intel’s dividend payout ratio is presently -125.00%.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.