Gemmer Asset Management LLC Sells 3,742 Shares of Intel Co. (NASDAQ:INTC)

Gemmer Asset Management LLC trimmed its position in Intel Co. (NASDAQ:INTC) by 24.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,476 shares of the chip maker’s stock after selling 3,742 shares during the period. Gemmer Asset Management LLC’s holdings in Intel were worth $230,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of INTC. Edgestream Partners L.P. lifted its holdings in shares of Intel by 74.1% during the 2nd quarter. Edgestream Partners L.P. now owns 12,043 shares of the chip maker’s stock valued at $373,000 after purchasing an additional 5,124 shares in the last quarter. XTX Topco Ltd increased its position in shares of Intel by 173.6% during the second quarter. XTX Topco Ltd now owns 17,959 shares of the chip maker’s stock worth $556,000 after acquiring an additional 11,394 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Intel by 10.7% during the second quarter. Intech Investment Management LLC now owns 146,133 shares of the chip maker’s stock worth $4,526,000 after acquiring an additional 14,102 shares during the period. Bridges Investment Management Inc. lifted its position in Intel by 135.4% in the 2nd quarter. Bridges Investment Management Inc. now owns 25,778 shares of the chip maker’s stock valued at $798,000 after acquiring an additional 14,828 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Intel by 2.7% in the 2nd quarter. Pacer Advisors Inc. now owns 573,804 shares of the chip maker’s stock worth $17,771,000 after purchasing an additional 14,844 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Trading Up 9.3 %

Intel stock opened at $21.49 on Monday. The stock’s 50 day moving average is $21.55 and its 200-day moving average is $23.27. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $18.51 and a 12 month high of $50.30.

Intel (NASDAQ:INTC) last posted 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 firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate 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 quarterly 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. As a group, sell-side analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America reissued an “underperform” rating and issued a $21.00 price target on shares of Intel in a research note on Tuesday, December 3rd. Rosenblatt Securities restated a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. Northland Securities lowered their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their target price 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $29.88.

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.