Intel Co. (NASDAQ:INTC) Shares Sold by Cannell & Spears LLC

Cannell & Spears LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 8.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 340,568 shares of the chip maker’s stock after selling 32,468 shares during the period. Cannell & Spears LLC’s holdings in Intel were worth $6,828,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Finley Financial LLC bought a new stake in shares of Intel in the 4th quarter valued at approximately $25,000. Synergy Investment Management LLC bought a new stake in Intel in the fourth quarter worth about $27,000. BankPlus Trust Department acquired a new stake in shares of Intel during the 4th quarter valued at $28,000. Keystone Financial Group Inc. purchased a new position in Intel during the 4th quarter worth approximately $29,000. Finally, Quest Partners LLC increased its stake 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 buying an additional 1,253 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on INTC. Wells Fargo & Company lowered their price target on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, January 31st. Roth Mkm dropped their target price on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, January 31st. Mizuho decreased their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $27.04.

Intel Stock Performance

Shares of Intel stock opened at $22.71 on Monday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $45.41. The company has a 50 day moving average of $22.33 and a 200-day moving average of $22.16. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market cap of $98.33 billion, a PE ratio of -5.18 and a beta of 1.02.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, equities research analysts forecast that Intel Co. will post -0.11 earnings per share for the current fiscal 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.