Archer Investment Corp Lowers Holdings in Intel Co. (NASDAQ:INTC)

Archer Investment Corp decreased its position in shares of Intel Co. (NASDAQ:INTC) by 55.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,356 shares of the chip maker’s stock after selling 13,991 shares during the quarter. Archer Investment Corp’s holdings in Intel were worth $266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. Birchcreek Wealth Management LLC raised its position in shares of Intel by 2.8% during the 3rd quarter. Birchcreek Wealth Management LLC now owns 31,488 shares of the chip maker’s stock worth $739,000 after purchasing an additional 852 shares during the last quarter. Empowered Funds LLC boosted its stake in Intel by 21.1% during the third quarter. Empowered Funds LLC now owns 454,788 shares of the chip maker’s stock worth $10,669,000 after buying an additional 79,169 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Intel by 2.3% in the third quarter. Empirical Finance LLC now owns 144,928 shares of the chip maker’s stock valued at $3,400,000 after purchasing an additional 3,276 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Intel by 6.2% during the 3rd quarter. CIBC Asset Management Inc now owns 1,324,899 shares of the chip maker’s stock worth $31,082,000 after buying an additional 76,855 shares during the last quarter. Finally, Balboa Wealth Partners increased its position in shares of Intel by 16.0% during the 3rd quarter. Balboa Wealth Partners now owns 24,883 shares of the chip maker’s stock worth $584,000 after purchasing an additional 3,435 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’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 directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on INTC shares. Morgan Stanley decreased their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Mizuho boosted their price target on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. UBS Group lowered their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Truist Financial upped their target price on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Daiwa America raised 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 issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel Stock Down 2.7 %

Shares of NASDAQ INTC opened at $24.35 on Friday. 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. The business has a 50-day moving average price of $22.69 and a 200 day moving average price of $26.36. The stock has a market cap of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the business posted $0.28 earnings per share. The business’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 year.

Intel Company 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.