Ferguson Wellman Capital Management Inc. Sells 28,179 Shares of Intel Co. (NASDAQ:INTC)

Ferguson Wellman Capital Management Inc. lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 33.0% in the third quarter, Holdings Channel reports. The institutional investor owned 57,226 shares of the chip maker’s stock after selling 28,179 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Intel were worth $1,343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. America First Investment Advisors LLC purchased a new stake in Intel during the 2nd quarter valued at $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel in the 2nd quarter worth $27,000. Spartan Fund Management Inc. purchased a new position in shares of Intel in the 2nd quarter worth $31,000. Financial Connections Group Inc. purchased a new position in shares of Intel in the 2nd quarter worth $32,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Intel in the 2nd quarter worth $33,000. Institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on INTC. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. Cantor Fitzgerald dropped their price target on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Northland Securities dropped their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a report on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.12.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated 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 transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Intel Price Performance

Shares of INTC stock opened at $25.03 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The stock’s 50-day moving average price is $22.47 and its 200-day moving average price is $26.42.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $13.02 billion. During the same period last year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. Analysts expect that Intel Co. will post -0.83 earnings per share for the current year.

About Intel

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.