Intel Co. (NASDAQ:INTC) Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in Intel Co. (NASDAQ:INTC) by 10.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 212,635 shares of the chip maker’s stock after selling 23,745 shares during the period. Thrivent Financial for Lutherans’ holdings in Intel were worth $4,988,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Primecap Management Co. CA boosted its stake in Intel by 2.2% during the 2nd 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 in the last quarter. Van ECK Associates Corp grew its holdings 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 worth $967,426,000 after acquiring an additional 9,422,136 shares during the period. Legal & General Group Plc raised its position in Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after acquiring an additional 487,191 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Intel by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock valued at $759,127,000 after acquiring an additional 656,583 shares during the last quarter. Finally, Davis Selected Advisers boosted its position in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after purchasing an additional 5,851,098 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Performance

INTC opened at $24.50 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The firm has a market capitalization of $105.67 billion, a P/E ratio of -6.59 and a beta of 1.03. The stock’s 50 day moving average price is $23.19 and its two-hundred day moving average price is $26.11. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its 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 return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.28 EPS. On average, equities analysts forecast that Intel Co. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was 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 $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on INTC. JPMorgan Chase & Co. cut their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus reissued a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Northland Securities cut their target price on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. UBS Group decreased their price target on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Argus downgraded Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.12.

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.