Intel Co. (NASDAQ:INTC) Stake Cut by Westmount Partners LLC

Westmount Partners LLC trimmed its stake in Intel Co. (NASDAQ:INTC) by 13.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 20,360 shares of the chip maker’s stock after selling 3,062 shares during the quarter. Westmount Partners LLC’s holdings in Intel were worth $408,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. City State Bank increased its stake in Intel by 39.0% in the 4th quarter. City State Bank now owns 10,384 shares of the chip maker’s stock worth $208,000 after purchasing an additional 2,915 shares in the last quarter. Fiduciary Alliance LLC increased its stake in Intel by 34.7% in the 4th quarter. Fiduciary Alliance LLC now owns 60,688 shares of the chip maker’s stock worth $1,217,000 after purchasing an additional 15,650 shares in the last quarter. Clark & Stuart Inc purchased a new position in Intel in the 4th quarter worth about $385,000. Matrix Trust Co boosted its position in Intel by 669.0% during the 4th quarter. Matrix Trust Co now owns 4,845 shares of the chip maker’s stock worth $97,000 after acquiring an additional 4,215 shares during the period. Finally, Czech National Bank boosted its position in Intel by 7.6% during the 4th quarter. Czech National Bank now owns 935,144 shares of the chip maker’s stock worth $18,750,000 after acquiring an additional 65,911 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on INTC shares. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Mizuho reduced their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft reduced their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Truist Financial boosted 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. 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 company’s stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $29.96.

Intel Price Performance

NASDAQ INTC traded down $0.07 during midday trading on Monday, hitting $19.08. The company had a trading volume of 28,986,846 shares, compared to its average volume of 55,219,598. The company has a market capitalization of $82.29 billion, a PE ratio of -5.13 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $22.03 and a 200-day moving average price of $23.66. Intel Co. has a twelve month low of $18.51 and a twelve month high of $50.30.

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

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.