Intel Co. (NASDAQ:INTC) Shares Sold by Alerus Financial NA

Alerus Financial NA lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 95.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,336 shares of the chip maker’s stock after selling 177,816 shares during the quarter. Alerus Financial NA’s holdings in Intel were worth $219,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in INTC. America First Investment Advisors LLC acquired a new stake in Intel in the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC bought a new stake in Intel during the second quarter worth approximately $27,000. Quest Partners LLC grew 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 buying an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. bought a new position in shares of Intel in the second quarter valued at $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Intel during the 2nd quarter valued at $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Price Performance

NASDAQ INTC opened at $24.05 on Monday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The stock’s 50-day moving average is $23.48 and its two-hundred day moving average is $25.85. The firm has a market cap 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 current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last posted 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on INTC shares. Mizuho boosted their target price on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. The Goldman Sachs Group reduced their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. Stifel Nicolaus restated a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, Truist Financial raised their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.12.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is owned by 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.