Intel Co. (NASDAQ:INTC) Position Cut by Atria Investments Inc

Atria Investments Inc trimmed its holdings in Intel Co. (NASDAQ:INTC) by 13.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,214 shares of the chip maker’s stock after selling 11,789 shares during the quarter. Atria Investments Inc’s holdings in Intel were worth $1,788,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. First Personal Financial Services grew its holdings in Intel by 52.4% in the 3rd quarter. First Personal Financial Services now owns 119,766 shares of the chip maker’s stock worth $2,810,000 after buying an additional 41,161 shares in the last quarter. SilverOak Wealth Management LLC grew its holdings in Intel by 19.1% in the 3rd quarter. SilverOak Wealth Management LLC now owns 18,772 shares of the chip maker’s stock worth $440,000 after buying an additional 3,006 shares in the last quarter. Lindbrook Capital LLC grew its holdings in Intel by 26.2% in the 3rd quarter. Lindbrook Capital LLC now owns 19,387 shares of the chip maker’s stock worth $455,000 after buying an additional 4,027 shares in the last quarter. PFS Partners LLC grew its holdings in Intel by 25.5% in the 3rd quarter. PFS Partners LLC now owns 3,706 shares of the chip maker’s stock worth $87,000 after buying an additional 752 shares in the last quarter. Finally, Wealth Quarterback LLC grew its holdings in Intel by 246.5% in the 3rd quarter. Wealth Quarterback LLC now owns 24,950 shares of the chip maker’s stock worth $585,000 after buying an additional 17,749 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INTC. Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Morgan Stanley decreased their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Barclays decreased their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Stock Down 2.7 %

INTC stock opened at $24.35 on Friday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a market cap of $105.02 billion, a PE ratio of -6.54 and a beta of 1.03. The business’s 50-day simple moving average is $22.58 and its 200 day simple moving average is $26.41. 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 released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period last year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. On average, research analysts anticipate that Intel Co. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, 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 at this link. 0.04% of the stock is owned by company insiders.

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.