Intel Co. (NASDAQ:INTC) Shares Sold by Bell Bank

Bell Bank reduced its position in Intel Co. (NASDAQ:INTC) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,613 shares of the chip maker’s stock after selling 24,247 shares during the period. Bell Bank’s holdings in Intel were worth $5,598,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Capital International Investors raised its stake in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp increased its holdings in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares during the last quarter. Davis Selected Advisers increased its holdings in Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock valued at $391,533,000 after buying an additional 5,851,098 shares during the last quarter. Caxton Associates LP acquired a new stake in Intel during the second quarter valued at approximately $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after buying an additional 4,272,395 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on INTC shares. Stifel Nicolaus reissued a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. Raymond James downgraded shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Finally, TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.12.

Intel Stock Up 3.1 %

INTC opened at $24.92 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The company has a market capitalization of $107.48 billion, a PE ratio of -6.70 and a beta of 1.03. The stock’s fifty day moving average is $22.36 and its 200-day moving average is $26.43. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 earnings per share. On average, equities analysts predict that Intel Co. will post -0.83 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value 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 $7,104,708. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate 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.