Intel Co. (NASDAQ:INTC) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 18.5% in the third quarter, Holdings Channel.com reports. The fund owned 122,308 shares of the chip maker’s stock after selling 27,790 shares during the quarter. Raymond James Trust N.A.’s holdings in Intel were worth $2,869,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of INTC. William B. Walkup & Associates Inc. purchased a new stake in shares of Intel in the second quarter valued at $2,178,000. Swiss National Bank lifted its holdings in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares in the last quarter. Fortis Group Advisors LLC lifted its holdings in shares of Intel by 1,052.9% in the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after purchasing an additional 157,991 shares in the last quarter. Mizuho Securities Co. Ltd. lifted its holdings in shares of Intel by 2,910.4% in the third quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after purchasing an additional 27,940 shares in the last quarter. Finally, Private Advisory Group LLC purchased a new stake in shares of Intel in the third quarter valued at $8,045,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on INTC shares. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Susquehanna dropped their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, Roth Mkm dropped their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” 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 issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus price target of $30.12.

Intel Stock Performance

NASDAQ INTC opened at $24.50 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $23.19 and a 200 day simple moving average of $26.14. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts forecast that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by corporate 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.