West Coast Financial LLC Cuts Position in Intel Co. (NASDAQ:INTC)

West Coast Financial LLC lowered its position in shares of Intel Co. (NASDAQ:INTC) by 21.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,935 shares of the chip maker’s stock after selling 4,083 shares during the quarter. West Coast Financial LLC’s holdings in Intel were worth $299,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of INTC. State Street Corp increased its holdings in Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC grew its holdings in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. Robert W. Baird raised their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Mizuho lowered their target price on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.96.

Intel Price Performance

NASDAQ INTC opened at $19.77 on Thursday. The firm has a market cap of $85.27 billion, a P/E ratio of -5.31, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07. The stock’s 50-day moving average is $21.89 and its two-hundred day moving average is $23.49. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $50.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

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 company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the company earned $0.28 EPS. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

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 value 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 approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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.