Atlantic Union Bankshares Corp Cuts Stock Position in Intel Co. (NASDAQ:INTC)

Atlantic Union Bankshares Corp trimmed its position in Intel Co. (NASDAQ:INTC) by 67.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,733 shares of the chip maker’s stock after selling 68,361 shares during the period. Atlantic Union Bankshares Corp’s holdings in Intel were worth $791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of INTC. William B. Walkup & Associates Inc. acquired a new stake in Intel in the 2nd quarter worth approximately $2,178,000. Swiss National Bank increased its position in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after acquiring an additional 31,800 shares during the period. Fortis Group Advisors LLC raised its stake in Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after acquiring an additional 157,991 shares during the last quarter. Mizuho Securities Co. Ltd. lifted its position in Intel by 2,910.4% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock worth $678,000 after acquiring an additional 27,940 shares during the period. Finally, CreativeOne Wealth LLC increased its holdings in shares of Intel by 104.9% in the third quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock valued at $1,427,000 after purchasing an additional 31,143 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Up 1.7 %

NASDAQ INTC opened at $24.05 on Friday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. 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 business has a fifty day moving average price of $23.48 and a 200 day moving average price of $25.93. The company has a market cap of $103.73 billion, a P/E ratio of -6.47 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its quarterly 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 during 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 business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. Research analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on INTC. 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. The Goldman Sachs Group dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. reduced their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a report on Friday, August 2nd. Wedbush lowered their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Six research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.