Glass Wealth Management Co LLC Boosts Holdings in Intel Co. (NASDAQ:INTC)

Glass Wealth Management Co LLC increased its stake in shares of Intel Co. (NASDAQ:INTC) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,611 shares of the chip maker’s stock after purchasing an additional 2,040 shares during the quarter. Glass Wealth Management Co LLC’s holdings in Intel were worth $1,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in INTC. Guardian Capital Advisors LP increased its position in shares of Intel by 2.1% in the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after purchasing an additional 328 shares during the last quarter. Key Financial Inc grew its stake in Intel by 4.1% in the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after purchasing an additional 340 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co increased its holdings in Intel by 1.4% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock valued at $767,000 after buying an additional 348 shares during the last quarter. Cypress Asset Management Inc. TX raised its stake in Intel by 1.6% during the first quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after buying an additional 350 shares in the last quarter. Finally, Cidel Asset Management Inc. lifted its holdings in Intel by 0.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after buying an additional 381 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INTC. Wedbush lowered their price target on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Finally, Roth Mkm cut their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.12.

Intel Price Performance

Shares of NASDAQ:INTC opened at $24.35 on Monday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a market capitalization of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03. 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 stock has a fifty day moving average of $22.69 and a 200-day moving average of $26.30.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. As a group, equities analysts anticipate that Intel Co. will post -0.83 EPS for the current fiscal year.

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.