TCW Group Inc. Sells 50,765 Shares of Intel Co. (NASDAQ:INTC)

TCW Group Inc. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 46.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,277 shares of the chip maker’s stock after selling 50,765 shares during the quarter. TCW Group Inc.’s holdings in Intel were worth $1,367,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Soltis Investment Advisors LLC boosted its stake in Intel by 158.0% during the third quarter. Soltis Investment Advisors LLC now owns 47,791 shares of the chip maker’s stock valued at $1,121,000 after buying an additional 29,265 shares during the last quarter. Arete Wealth Advisors LLC purchased a new stake in shares of Intel during the 3rd quarter worth approximately $203,000. Teachers Retirement System of The State of Kentucky boosted its position in shares of Intel by 30.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 778,186 shares of the chip maker’s stock valued at $18,256,000 after acquiring an additional 183,892 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Intel by 3,603.3% in the third quarter. Sunbelt Securities Inc. now owns 125,133 shares of the chip maker’s stock valued at $2,936,000 after purchasing an additional 121,754 shares in the last quarter. Finally, Toronto Dominion Bank increased its position in Intel by 3.1% in the third quarter. Toronto Dominion Bank now owns 2,722,472 shares of the chip maker’s stock worth $63,869,000 after purchasing an additional 82,951 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on INTC. Bank of America reiterated an “underperform” rating and set a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Robert W. Baird raised their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Truist Financial lifted their target price on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Six 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Stock Up 3.3 %

NASDAQ:INTC opened at $20.78 on Friday. 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 $23.19 and its 200-day simple moving average is $25.33. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last announced 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). The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 earnings per share. On average, equities analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling at Intel

In related 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 value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by company insiders.

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.