Lmcg Investments LLC Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

Lmcg Investments LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,721 shares of the chip maker’s stock after selling 1,053 shares during the quarter. Lmcg Investments LLC’s holdings in Intel were worth $838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norden Group LLC increased its position in Intel by 27.8% in the 1st quarter. Norden Group LLC now owns 14,412 shares of the chip maker’s stock valued at $637,000 after acquiring an additional 3,133 shares during the period. Goelzer Investment Management Inc. acquired a new position in Intel in the 1st quarter valued at about $205,000. Lincoln National Corp increased its position in Intel by 8.5% in the 1st quarter. Lincoln National Corp now owns 133,042 shares of the chip maker’s stock valued at $5,876,000 after acquiring an additional 10,428 shares during the period. Haverford Trust Co increased its position in Intel by 17.3% in the 1st quarter. Haverford Trust Co now owns 57,852 shares of the chip maker’s stock valued at $2,555,000 after acquiring an additional 8,534 shares during the period. Finally, Jennison Associates LLC increased its position in Intel by 71.4% during the 1st quarter. Jennison Associates LLC now owns 1,048,893 shares of the chip maker’s stock worth $46,330,000 after purchasing an additional 437,060 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC opened at $23.20 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a 50-day simple moving average of $21.79 and a two-hundred day simple moving average of $26.96. The firm has a market capitalization of $99.20 billion, a PE ratio of -6.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a negative net margin of 29.42% and a negative return on equity of 1.68%. The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. During the same period last year, the business earned ($0.05) EPS. Intel’s revenue was down .8% on a year-over-year basis. On average, analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Mizuho boosted their target price on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday. UBS Group dropped their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird boosted their target price on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Barclays decreased their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.12.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

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.