Empirical Finance LLC Acquires 3,276 Shares of Intel Co. (NASDAQ:INTC)

Empirical Finance LLC boosted its stake in shares of Intel Co. (NASDAQ:INTC) by 2.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 144,928 shares of the chip maker’s stock after purchasing an additional 3,276 shares during the period. Empirical Finance LLC’s holdings in Intel were worth $3,400,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in INTC. America First Investment Advisors LLC purchased a new position in Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel in the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. purchased a new stake in shares of Intel in the second quarter valued at about $31,000. Financial Connections Group Inc. acquired a new stake in shares of Intel in the 2nd quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in Intel in the 2nd quarter valued at approximately $33,000. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 1.2 %

Shares of NASDAQ:INTC opened at $24.72 on Friday. The stock has a 50-day simple moving average of $22.47 and a 200-day simple moving average of $26.42. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 EPS. As a group, sell-side analysts forecast that Intel Co. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

INTC has been the topic of a number of research analyst reports. Susquehanna lowered their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Northland Securities cut their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. StockNews.com downgraded shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $30.12.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.