Amalgamated Bank Trims Stock Position in Intel Co. (NASDAQ:INTC)

Amalgamated Bank lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 837,668 shares of the chip maker’s stock after selling 21,426 shares during the quarter. Amalgamated Bank’s holdings in Intel were worth $19,652,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. America First Investment Advisors LLC purchased a new stake in Intel in the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel in the 2nd quarter worth approximately $27,000. Spartan Fund Management Inc. purchased a new stake in Intel in the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. bought a new position in Intel in the 2nd quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC bought a new position in Intel in the 2nd quarter worth approximately $33,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on INTC shares. Truist Financial increased their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, HSBC lowered Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

Shares of Intel stock opened at $22.52 on Tuesday. The firm has a market cap of $96.30 billion, a P/E ratio of -6.05 and a beta of 1.03. 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 12 month low of $18.51 and a 12 month high of $51.28. The stock’s fifty day moving average price is $21.84 and its 200-day moving average price is $26.81.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the business earned $0.28 EPS. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts expect that Intel Co. will post -0.47 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.