Kentucky Retirement Systems Sells 23,530 Shares of Intel Co. (NASDAQ:INTC)

Kentucky Retirement Systems lessened its position in Intel Co. (NASDAQ:INTC) by 7.3% during the 3rd quarter, Holdings Channel reports. The firm owned 297,262 shares of the chip maker’s stock after selling 23,530 shares during the quarter. Kentucky Retirement Systems’ holdings in Intel were worth $6,974,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. America First Investment Advisors LLC bought a new position in shares of Intel in the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel during the 2nd quarter valued at $27,000. Spartan Fund Management Inc. bought a new position in Intel in the 2nd quarter valued at $31,000. Financial Connections Group Inc. bought a new stake in shares of Intel during the second quarter worth $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Intel in the second quarter valued at $33,000. 64.53% of the stock is owned by institutional investors.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on INTC. Barclays decreased their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Northland Securities decreased their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $30.12.

Intel Price Performance

Shares of INTC opened at $24.35 on Friday. The stock has a market capitalization of $105.02 billion, a P/E ratio of -6.55 and a beta of 1.03. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a 50 day moving average of $22.69 and a 200-day moving average of $26.36. 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 (NASDAQ:INTC) last posted 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 last year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities research analysts forecast that Intel Co. will post -0.83 EPS for the current fiscal year.

Intel 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.