Bailard Inc. Sells 3,208 Shares of Intel Co. (NASDAQ:INTC)

Bailard Inc. lessened its position in Intel Co. (NASDAQ:INTC) by 2.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 111,456 shares of the chip maker’s stock after selling 3,208 shares during the quarter. Bailard Inc.’s holdings in Intel were worth $5,601,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. California Public Employees Retirement System increased its position in shares of Intel by 102.6% during the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after purchasing an additional 8,140,835 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Intel by 18.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after purchasing an additional 6,064,950 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Intel by 17.8% during the 3rd quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares during the last quarter. Alecta Tjanstepension Omsesidigt acquired a new position in shares of Intel during the 4th quarter worth approximately $251,250,000. Finally, Parnassus Investments LLC increased its position in shares of Intel by 24.7% during the 3rd quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after purchasing an additional 4,631,905 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Up 1.9 %

NASDAQ:INTC traded up $0.65 on Thursday, hitting $35.15. The stock had a trading volume of 39,619,797 shares, compared to its average volume of 46,898,824. The business’s fifty day moving average is $41.29 and its 200 day moving average is $42.30. The company has a market cap of $148.61 billion, a PE ratio of 89.03, a P/E/G ratio of 3.08 and a beta of 1.00. The company has a quick ratio of 1.15, a current ratio of 1.54 and a debt-to-equity ratio of 0.43. Intel Co. has a 52 week low of $26.85 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 25th. The chip maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion for the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 earnings per share. On average, equities research analysts expect that Intel Co. will post 0.61 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INTC has been the topic of several recent analyst reports. UBS Group boosted their price target on Intel from $46.00 to $50.00 and gave the stock a “neutral” rating in a research report on Monday, April 1st. Morgan Stanley boosted their target price on Intel from $39.00 to $48.00 and gave the stock an “equal weight” rating in a report on Monday, January 29th. Barclays boosted their target price on Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 16th. Rosenblatt Securities reissued a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, February 23rd. Finally, Mizuho reduced their price target on Intel from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, January 26th. Four analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $42.38.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the acquisition, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at $1,234,676. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Intel news, CEO Patrick P. Gelsinger purchased 2,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average cost of $42.74 per share, with a total value of $119,672.00. Following the completion of the transaction, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Patrick P. Gelsinger purchased 3,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average cost of $43.36 per share, with a total value of $130,080.00. Following the completion of the transaction, the chief executive officer now directly owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

About Intel

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.