Intel Co. (NASDAQ:INTC) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. cut its position in Intel Co. (NASDAQ:INTC) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,494 shares of the chip maker’s stock after selling 3,684 shares during the quarter. Navellier & Associates Inc.’s holdings in Intel were worth $387,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. America First Investment Advisors LLC acquired a new position in Intel in the second quarter valued at $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel during the second quarter worth about $27,000. Quest Partners LLC increased its position in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares during the period. Spartan Fund Management Inc. purchased a new stake in Intel during the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. acquired a new stake in Intel during the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on INTC. The Goldman Sachs Group lowered 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. Wedbush lowered their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. reduced their price target on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Intel has an average rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

INTC stock opened at $24.50 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $105.67 billion, a price-to-earnings ratio of -6.59 and a beta of 1.03. The stock’s fifty day simple moving average is $23.19 and its 200-day simple moving average is $26.14. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last released its earnings results 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the business posted $0.28 earnings per share. Intel’s revenue was down 6.3% on a year-over-year basis. Equities research analysts expect that Intel Co. will post -0.83 EPS for the current year.

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.