Mizuho Securities USA LLC Trims Stock Holdings in Intel Co. (NASDAQ:INTC)

Mizuho Securities USA LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 15.7% during the third quarter, Holdings Channel reports. The institutional investor owned 276,692 shares of the chip maker’s stock after selling 51,538 shares during the period. Mizuho Securities USA LLC’s holdings in Intel were worth $6,491,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. America First Investment Advisors LLC bought a new stake in shares of Intel during the 2nd quarter valued at $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel in the second quarter valued at about $27,000. Quest Partners LLC boosted its stake in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares during the period. Spartan Fund Management Inc. purchased a new stake in shares of Intel during the second quarter worth about $31,000. Finally, Financial Connections Group Inc. bought a new stake in Intel during the 2nd quarter valued at approximately $32,000. 64.53% of the stock is currently owned by institutional investors.

Insider Activity

In other Intel 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on INTC shares. Roth Mkm reduced their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group decreased their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Northland Securities cut their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. Finally, Robert W. Baird raised their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel Stock Performance

Intel stock opened at $24.43 on Friday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The company has a market capitalization of $105.35 billion, a PE ratio of -6.57 and a beta of 1.03. The company has a 50 day moving average price of $23.10 and a 200-day moving average price of $26.19. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last posted its quarterly 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). The firm had revenue of $13.30 billion for 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%. Intel’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. As a group, equities 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.