Isthmus Partners LLC Cuts Holdings in Intel Co. (NASDAQ:INTC)

Isthmus Partners LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 1.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 200,765 shares of the chip maker’s stock after selling 3,081 shares during the quarter. Isthmus Partners LLC’s holdings in Intel were worth $4,710,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Key Financial Inc grew its position in shares of Intel by 4.1% in the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after buying an additional 340 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in Intel by 1.4% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after acquiring an additional 348 shares during the period. Cypress Asset Management Inc. TX grew its holdings in Intel by 1.6% during the 1st quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after buying an additional 350 shares in the last quarter. Cidel Asset Management Inc. increased its position in Intel by 0.6% in the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after purchasing an additional 381 shares during the last quarter. Finally, Alhambra Investment Management LLC increased its stake in Intel by 5.9% during the second quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock worth $217,000 after acquiring an additional 389 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on INTC shares. Daiwa America upgraded Intel to a “hold” rating in a report on Monday, August 26th. Cantor Fitzgerald cut their target price on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. 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 research note on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, The Goldman Sachs Group cut their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $30.12.

Intel Price Performance

Shares of Intel stock opened at $23.65 on Friday. The firm’s 50-day simple moving average is $23.43 and its 200-day simple moving average is $25.97. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company 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%. Intel’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Equities analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.04% of the stock is currently owned by company insiders.

Intel 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.