Icon Wealth Advisors LLC Raises Stock Holdings in Intel Co. (NASDAQ:INTC)

Icon Wealth Advisors LLC boosted its holdings in Intel Co. (NASDAQ:INTC) by 8.8% during the 3rd quarter, Holdings Channel reports. The firm owned 49,736 shares of the chip maker’s stock after acquiring an additional 4,019 shares during the period. Icon Wealth Advisors LLC’s holdings in Intel were worth $1,167,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. America First Investment Advisors LLC purchased a new position in shares of Intel in the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the second quarter worth about $27,000. Quest Partners LLC raised its position in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares during the period. Spartan Fund Management Inc. purchased a new position in Intel in the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel during the 2nd quarter valued at approximately $32,000. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on INTC shares. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. 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. Finally, Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six 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. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

NASDAQ INTC opened at $24.05 on Friday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a fifty day moving average of $23.48 and a 200-day moving average of $25.93. The company has a market capitalization of $103.73 billion, a P/E ratio of -6.47 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.

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 analysts’ consensus estimates of ($0.02) by ($0.44). The firm 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%. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. As a group, equities research analysts predict that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Company 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.