Intel Co. (NASDAQ:INTC) Shares Sold by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 92.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,275 shares of the chip maker’s stock after selling 42,442 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Intel were worth $77,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Lazard Asset Management LLC increased its holdings in Intel by 5.0% in the 1st quarter. Lazard Asset Management LLC now owns 284,044 shares of the chip maker’s stock valued at $12,544,000 after purchasing an additional 13,506 shares in the last quarter. Silvercrest Asset Management Group LLC raised its stake in Intel by 3.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 303,347 shares of the chip maker’s stock valued at $13,399,000 after acquiring an additional 8,732 shares in the last quarter. Waverly Advisors LLC grew its position in Intel by 16.9% in the 1st quarter. Waverly Advisors LLC now owns 73,714 shares of the chip maker’s stock valued at $3,256,000 after buying an additional 10,659 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Intel by 14.9% during the first quarter. Janus Henderson Group PLC now owns 473,056 shares of the chip maker’s stock valued at $20,889,000 after acquiring an additional 61,516 shares during the period. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of Intel by 9.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 125,498 shares of the chip maker’s stock valued at $5,543,000 after purchasing an additional 11,236 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of several recent research reports. Daiwa America raised shares of Intel to a “hold” rating in a research note on Monday, August 26th. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Cantor Fitzgerald dropped their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus restated a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $30.12.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of INTC stock opened at $24.50 on Monday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $105.67 billion, a price-to-earnings ratio of -6.59 and a beta of 1.03. The firm has a fifty day moving average of $23.19 and a 200-day moving average of $26.08.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion during 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 for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. On average, equities research analysts forecast that Intel Co. will post -0.83 earnings per share for the current year.

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.