Salem Investment Counselors Inc. Has $1.88 Million Stock Position in Intel Co. (NASDAQ:INTC)

Salem Investment Counselors Inc. cut its stake in shares of Intel Co. (NASDAQ:INTC) by 29.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 93,831 shares of the chip maker’s stock after selling 39,447 shares during the period. Salem Investment Counselors Inc.’s holdings in Intel were worth $1,881,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in INTC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after buying an additional 12,865,308 shares during the period. Van ECK Associates Corp grew its holdings in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. State Street Corp increased its stake in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in Intel during the 2nd quarter worth $162,592,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Up 0.3 %

Shares of INTC opened at $19.20 on Tuesday. The firm’s 50-day simple moving average is $21.97 and its 200 day simple moving average is $23.58. 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 firm has a market cap of $82.81 billion, a P/E ratio of -5.16 and a beta of 1.07. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30.

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 analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for 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 for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the business posted $0.28 EPS. On average, analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INTC. Truist Financial raised their target price on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Mizuho dropped their price target on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday. The Goldman Sachs Group cut their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Finally, Northland Securities dropped their target price on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Six 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $29.96.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’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 sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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.