Grimes & Company Inc. Cuts Position in Intel Co. (NASDAQ:INTC)

Grimes & Company Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 18.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,700 shares of the chip maker’s stock after selling 19,284 shares during the quarter. Grimes & Company Inc.’s holdings in Intel were worth $1,698,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Finley Financial LLC bought a new stake in Intel in the fourth quarter worth $25,000. Quest Partners LLC raised its position in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares during the last quarter. West Financial Advisors LLC bought a new position in Intel in the 4th quarter worth about $31,000. Groupama Asset Managment grew its position in Intel by 6.3% during the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after purchasing an additional 8,084 shares during the last quarter. Finally, Sawyer & Company Inc bought a new stake in Intel during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on INTC shares. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Robert W. Baird increased their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.81.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.

Intel Trading Down 3.4 %

Intel stock opened at $20.83 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $50.30. The firm has a market capitalization of $89.84 billion, a price-to-earnings ratio of -5.60, a P/E/G ratio of 9.72 and a beta of 1.07. The firm has a 50 day moving average of $21.23 and a 200 day moving average of $23.02. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period last year, the company earned $0.28 earnings per share. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts predict that Intel Co. will post -0.87 earnings per share for the current 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.