Northwest Bancshares Inc. Sells 4,225 Shares of Intel Co. (NASDAQ:INTC)

Northwest Bancshares Inc. trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 29.0% in the third quarter, HoldingsChannel reports. The firm owned 10,351 shares of the chip maker’s stock after selling 4,225 shares during the quarter. Northwest Bancshares Inc.’s holdings in Intel were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the second quarter valued at about $2,178,000. Swiss National Bank boosted its holdings in Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after purchasing an additional 31,800 shares during the period. Fortis Group Advisors LLC grew its position in shares of Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares in the last quarter. Mizuho Securities Co. Ltd. grew its position in shares of Intel by 2,910.4% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock worth $678,000 after purchasing an additional 27,940 shares in the last quarter. Finally, Private Advisory Group LLC acquired a new stake in shares of Intel in the third quarter valued at approximately $8,045,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Intel

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 transaction 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. The Goldman Sachs Group reduced their price objective 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. Finally, Daiwa America upgraded shares of Intel to a “hold” rating in a research report on Monday, August 26th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Stock Down 0.8 %

Intel stock opened at $24.01 on Thursday. The firm has a 50 day moving average price of $23.00 and a two-hundred day moving average price of $26.20. 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 Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The firm has a market cap of $103.56 billion, a price-to-earnings ratio of -6.45 and a beta of 1.03.

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