Intel Co. (NASDAQ:INTC) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC decreased its stake in Intel Co. (NASDAQ:INTC) by 15.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,213 shares of the chip maker’s stock after selling 2,000 shares during the period. Hourglass Capital LLC’s holdings in Intel were worth $263,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in INTC. Guardian Capital Advisors LP lifted its holdings in Intel by 2.1% during the 1st quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after buying an additional 328 shares in the last quarter. Key Financial Inc lifted its position in Intel by 4.1% during the 2nd quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after purchasing an additional 340 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in shares of Intel by 1.4% during the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after buying an additional 348 shares during the last quarter. Cypress Asset Management Inc. TX lifted its stake in shares of Intel by 1.6% in the 1st quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after purchasing an additional 350 shares during the period. Finally, Cidel Asset Management Inc. boosted its position in shares of Intel by 0.6% in the 2nd quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after purchasing an additional 381 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INTC. Truist Financial increased their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and decreased their price objective for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Roth Mkm lowered their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Susquehanna reduced their target price on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.12.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were 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 of the company’s stock, valued at $7,104,708. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.04% of the stock is owned by corporate insiders.

Intel Trading Up 3.1 %

Shares of Intel stock opened at $24.92 on Thursday. The firm has a market capitalization of $107.48 billion, a PE ratio of -6.70 and a beta of 1.03. 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’s 50 day moving average is $22.36 and its 200 day moving average is $26.43. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

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