Rossmore Private Capital Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Rossmore Private Capital lowered its stake in Intel Co. (NASDAQ:INTC) by 22.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 20,110 shares of the chip maker’s stock after selling 5,656 shares during the period. Rossmore Private Capital’s holdings in Intel were worth $472,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of INTC stock opened at $24.16 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The company’s 50-day simple moving average is $22.28 and its two-hundred day simple moving average is $26.48. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion during 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%. Intel’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 earnings per share. On average, sell-side analysts anticipate that Intel Co. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Northland Securities dropped their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Morgan Stanley decreased their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a research report on Monday, August 26th. Finally, TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.12.

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.