Ipswich Investment Management Co. Inc. Sells 14,224 Shares of Intel Co. (NASDAQ:INTC)

Ipswich Investment Management Co. Inc. lowered its stake in Intel Co. (NASDAQ:INTC) by 40.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,879 shares of the chip maker’s stock after selling 14,224 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Intel were worth $490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. Guardian Capital Advisors LP lifted its stake in Intel by 2.1% in the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after acquiring an additional 328 shares during the period. Key Financial Inc increased its stake in shares of Intel by 4.1% during the second 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 in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co lifted its holdings 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 valued at $767,000 after purchasing an additional 348 shares during the last quarter. Cypress Asset Management Inc. TX boosted its position 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 worth $1,015,000 after purchasing an additional 350 shares in the last quarter. Finally, Cidel Asset Management Inc. grew its stake 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 buying an additional 381 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on INTC shares. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Finally, Roth Mkm dropped their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $30.12.

Intel Price Performance

INTC opened at $24.35 on Friday. The business has a fifty day moving average of $22.69 and a 200 day moving average of $26.36. The stock has a market cap of $105.02 billion, a P/E ratio of -6.55 and a beta of 1.03. 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 Co. has a 52-week low of $18.51 and a 52-week high of $51.28.

Intel (NASDAQ:INTC) last issued its 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 company had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. As a group, sell-side analysts anticipate 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.