Perigon Wealth Management LLC Sells 23,396 Shares of Intel Co. (NASDAQ:INTC)

Perigon Wealth Management LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 17.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 114,138 shares of the chip maker’s stock after selling 23,396 shares during the quarter. Perigon Wealth Management LLC’s holdings in Intel were worth $2,245,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quest Partners LLC increased its position in Intel by 7,370.6% during the third 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 during the last quarter. Finley Financial LLC purchased a new position in shares of Intel during the 4th quarter worth about $25,000. FSA Wealth Management LLC bought a new position in Intel during the 3rd quarter valued at about $34,000. Capital Performance Advisors LLP purchased a new stake in Intel in the 3rd quarter worth about $36,000. Finally, West Financial Advisors LLC bought a new stake in Intel in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC opened at $19.77 on Thursday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $46.63. 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 company has a market cap of $85.25 billion, a PE ratio of -5.31, a P/E/G ratio of 9.72 and a beta of 1.07. The business has a 50-day simple moving average of $21.06 and a two-hundred day simple moving average of $22.65.

Intel (NASDAQ:INTC) last released 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). The company had revenue of $13.30 billion for 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 firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. As a group, equities analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Intel

In related 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 transaction of $650,000.00. Following the completion of the sale, the executive vice president now 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 through this hyperlink. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the topic of a number of analyst reports. Hsbc Global Res raised Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. Truist Financial upped their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. UBS Group lowered their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lowered their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Five analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average price target of $27.88.

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.