FLC Capital Advisors Sells 5,060 Shares of Intel Co. (NASDAQ:INTC)

FLC Capital Advisors trimmed its position in Intel Co. (NASDAQ:INTC) by 29.4% in the 4th quarter, Holdings Channel reports. The firm owned 12,162 shares of the chip maker’s stock after selling 5,060 shares during the quarter. FLC Capital Advisors’ holdings in Intel were worth $244,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Assenagon Asset Management S.A. boosted its position in shares of Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after acquiring an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Intel by 28.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp lifted its position in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in Intel by 224.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after buying an additional 7,207,785 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of NASDAQ INTC opened at $21.49 on Monday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30. The company’s 50-day moving average is $21.55 and its 200 day moving average is $23.27. 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 (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 for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.28 EPS. On average, analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

INTC has been the subject of several research reports. Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. The Goldman Sachs Group reduced their price objective on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Six research 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.88.

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.