Intel Co. (NASDAQ:INTC) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in Intel Co. (NASDAQ:INTC) by 7.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 297,262 shares of the chip maker’s stock after selling 23,530 shares during the period. Kentucky Retirement Systems’ holdings in Intel were worth $6,974,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in INTC. Orion Portfolio Solutions LLC increased its holdings in shares of Intel by 1.9% during the first quarter. Orion Portfolio Solutions LLC now owns 100,220 shares of the chip maker’s stock valued at $4,427,000 after purchasing an additional 1,900 shares during the period. Intech Investment Management LLC raised its holdings in shares of Intel by 22.2% in the 1st quarter. Intech Investment Management LLC now owns 132,031 shares of the chip maker’s stock worth $5,832,000 after purchasing an additional 23,992 shares in the last quarter. Spirepoint Private Client LLC bought a new stake in shares of Intel in the 1st quarter worth approximately $355,000. TIAA Trust National Association lifted its stake in Intel by 3.6% during the first quarter. TIAA Trust National Association now owns 251,066 shares of the chip maker’s stock valued at $11,090,000 after purchasing an additional 8,809 shares during the last quarter. Finally, Patten & Patten Inc. TN increased its holdings in shares of Intel by 9.3% in the first quarter. Patten & Patten Inc. TN now owns 123,276 shares of the chip maker’s stock valued at $5,445,000 after buying an additional 10,520 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Truist Financial increased their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Robert W. Baird lifted their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average price target of $30.12.

Intel Trading Down 2.7 %

Shares of INTC stock opened at $24.35 on Friday. The firm has a market capitalization of $105.02 billion, a P/E ratio of -6.55 and a beta of 1.03. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm’s fifty day simple moving average is $22.69 and its 200 day simple moving average is $26.36. 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) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the company posted $0.28 EPS. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts predict that Intel Co. will post -0.83 EPS for the current year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

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.