Intel Co. (NASDAQ:INTC) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 20,859 shares of the chip maker’s stock after selling 576 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Intel were worth $418,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Clear Harbor Asset Management LLC increased its stake in shares of Intel by 212.3% during the 4th quarter. Clear Harbor Asset Management LLC now owns 109,479 shares of the chip maker’s stock worth $2,195,000 after purchasing an additional 74,422 shares in the last quarter. Perpetual Ltd acquired a new stake in Intel during the 4th quarter valued at $427,000. Bridgewater Advisors Inc. increased its position in Intel by 61.3% during the fourth quarter. Bridgewater Advisors Inc. now owns 24,774 shares of the chip maker’s stock worth $476,000 after buying an additional 9,414 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Intel in the fourth quarter worth $206,000. Finally, Ballast Inc. raised its holdings in shares of Intel by 26.5% in the fourth quarter. Ballast Inc. now owns 42,831 shares of the chip maker’s stock worth $859,000 after acquiring an additional 8,980 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of recent research reports. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday. Truist Financial lifted their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Five analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.81.

Intel Stock Up 1.3 %

NASDAQ INTC opened at $21.77 on Wednesday. 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 fifty-two week low of $18.51 and a fifty-two week high of $50.30. The business has a 50 day moving average price of $21.48 and a two-hundred day moving average price of $23.20. The stock has a market cap of $93.89 billion, a PE ratio of -5.85, a P/E/G ratio of 9.46 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced its 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 during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the company posted $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

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.