Fifth Third Wealth Advisors LLC Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Fifth Third Wealth Advisors LLC lowered its stake in Intel Co. (NASDAQ:INTC) by 14.0% during the 3rd quarter, Holdings Channel reports. The firm owned 56,250 shares of the chip maker’s stock after selling 9,167 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Intel were worth $1,320,000 at the end of the most recent reporting period.

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

Intel Stock Performance

Shares of Intel stock opened at $24.20 on Wednesday. The company has a market capitalization of $104.37 billion, a PE ratio of -6.51 and a beta of 1.03. The company has a 50-day simple moving average of $22.91 and a two-hundred day simple moving average of $26.21. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations 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 revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. Research analysts expect that Intel Co. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

INTC has been the topic of several recent research reports. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Daiwa America upgraded Intel to a “hold” rating in a report on Monday, August 26th. Wedbush decreased their price target on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald reduced their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned 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 target price of $30.12.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were 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 owns 273,258 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

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.