FORA Capital LLC Takes $2.54 Million Position in Intel Co. (NASDAQ:INTC)

FORA Capital LLC bought a new position in Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 108,228 shares of the chip maker’s stock, valued at approximately $2,539,000.

A number of other institutional investors have also bought and sold shares of the business. CreativeOne Wealth LLC lifted its position in shares of Intel by 104.9% in the third quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock worth $1,427,000 after buying an additional 31,143 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Intel by 4.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,624,859 shares of the chip maker’s stock valued at $108,499,000 after purchasing an additional 193,110 shares in the last quarter. Blueshift Asset Management LLC increased its position in Intel by 118.2% in the third quarter. Blueshift Asset Management LLC now owns 67,934 shares of the chip maker’s stock worth $1,594,000 after purchasing an additional 36,798 shares during the last quarter. Townsquare Capital LLC raised its stake in Intel by 2.7% during the third quarter. Townsquare Capital LLC now owns 61,109 shares of the chip maker’s stock valued at $1,434,000 after purchasing an additional 1,633 shares in the last quarter. Finally, Shum Financial Group Inc. bought a new position in Intel during the third quarter valued at $213,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on INTC shares. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. UBS Group lowered their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. TD Cowen upgraded Intel to a “hold” rating in a research report on Monday, September 16th. Finally, StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $30.12.

Insider Activity

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 value of $650,000.00. Following the completion of 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Intel Price Performance

NASDAQ:INTC traded down $0.51 during midday trading on Wednesday, hitting $23.54. The company’s stock had a trading volume of 9,595,834 shares, compared to its average volume of 59,853,320. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The firm’s 50 day moving average is $23.32 and its 200-day moving average is $26.00.

Intel (NASDAQ:INTC) last announced its quarterly 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 for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the business posted $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities 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.