Hedges Asset Management LLC Sells 1,700 Shares of Intel Co. (NASDAQ:INTC)

Hedges Asset Management LLC lowered its holdings in Intel Co. (NASDAQ:INTC) by 2.5% in the fourth quarter, Holdings Channel reports. The firm owned 65,500 shares of the chip maker’s stock after selling 1,700 shares during the quarter. Hedges Asset Management LLC’s holdings in Intel were worth $1,313,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTC. Quest Partners LLC grew its holdings in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares in the last quarter. Finley Financial LLC bought a new position in Intel in the fourth quarter valued at approximately $25,000. FSA Wealth Management LLC acquired a new position in shares of Intel during the 3rd quarter worth approximately $34,000. Capital Performance Advisors LLP bought a new stake in shares of Intel during the 3rd quarter worth approximately $36,000. Finally, West Financial Advisors LLC acquired a new stake in shares of Intel in the 4th quarter valued at approximately $31,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INTC. UBS Group lowered their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday. Truist Financial lifted their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Mizuho reduced their target price on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Finally, Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Five research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.81.

Intel Trading Down 1.3 %

INTC opened at $21.57 on Friday. The stock has a market capitalization of $93.03 billion, a price-to-earnings ratio of -5.80, a P/E/G ratio of 9.59 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a twelve month low of $18.51 and a twelve month high of $50.30. The company has a 50-day simple moving average of $21.37 and a 200 day simple moving average of $23.12.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate 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 revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. Analysts predict 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 Intel 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 transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate 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.