Bangor Savings Bank Sells 1,836 Shares of Intel Co. (NASDAQ:INTC)

Bangor Savings Bank lessened its position in Intel Co. (NASDAQ:INTC) by 17.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,766 shares of the chip maker’s stock after selling 1,836 shares during the period. Bangor Savings Bank’s holdings in Intel were worth $176,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of INTC. Neville Rodie & Shaw Inc. grew its stake in shares of Intel by 23.9% in the fourth quarter. Neville Rodie & Shaw Inc. now owns 67,910 shares of the chip maker’s stock worth $1,361,000 after purchasing an additional 13,095 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Intel by 6.0% in the 4th quarter. Nordea Investment Management AB now owns 349,657 shares of the chip maker’s stock worth $7,028,000 after buying an additional 19,895 shares during the last quarter. General Partner Inc. increased its stake in shares of Intel by 6.5% during the fourth quarter. General Partner Inc. now owns 12,366 shares of the chip maker’s stock valued at $248,000 after buying an additional 750 shares during the period. Versant Capital Management Inc increased its stake in shares of Intel by 12.1% during the fourth quarter. Versant Capital Management Inc now owns 5,583 shares of the chip maker’s stock valued at $112,000 after buying an additional 603 shares during the period. Finally, Cacti Asset Management LLC raised its holdings in shares of Intel by 6.0% during the fourth quarter. Cacti Asset Management LLC now owns 123,100 shares of the chip maker’s stock valued at $2,440,000 after acquiring an additional 7,000 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of INTC opened at $20.01 on Wednesday. The firm has a market cap of $86.30 billion, a PE ratio of -5.38 and a beta of 1.07. Intel Co. has a 1-year low of $18.51 and a 1-year high of $50.30. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $22.20 and a two-hundred day simple moving average of $23.89.

Intel (NASDAQ:INTC) last posted 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). The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. On average, equities analysts anticipate that Intel Co. will post -0.87 EPS 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 transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on INTC shares. The Goldman Sachs Group reduced their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Robert W. Baird increased their price target on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Bank of America restated an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.04.

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.