Cadence Bank Sells 5,037 Shares of Intel Co. (NASDAQ:INTC)

Cadence Bank cut its holdings in Intel Co. (NASDAQ:INTC) by 17.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,264 shares of the chip maker’s stock after selling 5,037 shares during the period. Cadence Bank’s holdings in Intel were worth $569,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in INTC. America First Investment Advisors LLC bought a new position in Intel in the 2nd quarter worth $25,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel in the second quarter worth about $27,000. Quest Partners LLC lifted its position in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. bought a new position in shares of Intel during the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel during the 2nd quarter valued at approximately $32,000. 64.53% of the stock is currently owned by institutional investors.

Intel Trading Down 1.7 %

INTC opened at $23.65 on Thursday. The firm has a market cap of $102.00 billion, a P/E ratio of -6.36 and a beta of 1.03. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. 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 stock has a 50-day moving average of $23.38 and a 200 day moving average of $25.99.

Intel (NASDAQ:INTC) last announced 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 net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the firm earned $0.28 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INTC shares. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Truist Financial increased their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Bank of America cut Intel from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Six investment 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 stock. According to MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $30.12.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.04% of the company’s stock.

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.