Covestor Ltd Cuts Holdings in Intel Co. (NASDAQ:INTC)

Covestor Ltd reduced its position in Intel Co. (NASDAQ:INTC) by 45.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,066 shares of the chip maker’s stock after selling 7,468 shares during the period. Covestor Ltd’s holdings in Intel were worth $213,000 at the end of the most recent quarter.

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

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $26.20 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $113.00 billion, a price-to-earnings ratio of -7.04 and a beta of 1.03. The firm has a 50 day moving average of $22.22 and a 200 day moving average of $26.66. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

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 return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on INTC. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Roth Mkm dropped their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Susquehanna dropped their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Robert W. Baird increased their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.12.

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.