Intel Co. (NASDAQ:INTC) Shares Sold by Smithfield Trust Co

Smithfield Trust Co trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 8.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 33,655 shares of the chip maker’s stock after selling 3,095 shares during the quarter. Smithfield Trust Co’s holdings in Intel were worth $789,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in INTC. MQS Management LLC bought a new position in Intel in the 1st quarter valued at about $228,000. EntryPoint Capital LLC bought a new stake in Intel in the first quarter worth $118,000. Guardian Capital Advisors LP raised its stake in shares of Intel by 2.1% in the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after acquiring an additional 328 shares in the last quarter. LRI Investments LLC acquired a new position in Intel during the 1st quarter worth $437,000. Finally, Epoch Investment Partners Inc. boosted its position in shares of Intel by 20.1% in the first quarter. Epoch Investment Partners Inc. now owns 70,469 shares of the chip maker’s stock valued at $3,113,000 after acquiring an additional 11,803 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Northland Securities lowered their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. The Goldman Sachs Group dropped their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Barclays reduced their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Truist Financial raised their target price on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

NASDAQ INTC opened at $24.43 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $105.35 billion, a P/E ratio of -6.57 and a beta of 1.03. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The firm’s fifty day simple moving average is $23.10 and its two-hundred day simple moving average is $26.19.

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 net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts forecast that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Intel

In other 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 completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by corporate insiders.

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.