Intel Co. (NASDAQ:INTC) Shares Sold by Archer Investment Corp

Archer Investment Corp lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 55.2% during the third quarter, Holdings Channel reports. The fund owned 11,356 shares of the chip maker’s stock after selling 13,991 shares during the quarter. Archer Investment Corp’s holdings in Intel were worth $266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Orion Portfolio Solutions LLC increased its position in Intel by 1.9% during the first quarter. Orion Portfolio Solutions LLC now owns 100,220 shares of the chip maker’s stock worth $4,427,000 after purchasing an additional 1,900 shares during the last quarter. Intech Investment Management LLC grew its stake in shares of Intel by 22.2% during the first quarter. Intech Investment Management LLC now owns 132,031 shares of the chip maker’s stock valued at $5,832,000 after acquiring an additional 23,992 shares in the last quarter. Spirepoint Private Client LLC purchased a new stake in Intel during the 1st quarter worth approximately $355,000. TIAA Trust National Association increased its stake in shares of Intel by 3.6% in the first quarter. TIAA Trust National Association now owns 251,066 shares of the chip maker’s stock worth $11,090,000 after buying an additional 8,809 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its stake in shares of Intel by 9.3% in the 1st quarter. Patten & Patten Inc. TN now owns 123,276 shares of the chip maker’s stock valued at $5,445,000 after purchasing an additional 10,520 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on INTC shares. Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. UBS Group dropped their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Six 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel Stock Performance

Shares of INTC opened at $24.35 on Friday. The company has a market capitalization of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03. The company’s fifty day moving average price is $22.69 and its 200 day moving average price is $26.36. Intel Co. has a one year low of $18.51 and a one year 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.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $13.02 billion. During the same period last year, the firm posted $0.28 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. As a group, analysts expect that Intel Co. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

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 completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by company insiders.

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.