Intel Co. (NASDAQ:INTC) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. decreased its position in Intel Co. (NASDAQ:INTC) by 16.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,763 shares of the chip maker’s stock after selling 22,280 shares during the quarter. Moors & Cabot Inc.’s holdings in Intel were worth $2,739,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in INTC. Primecap Management Co. CA lifted its holdings in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after purchasing an additional 1,697,550 shares during the last quarter. Van ECK Associates Corp raised its stake in Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Intel by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. Legal & General Group Plc raised its stake in Intel by 1.3% during 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 acquiring an additional 487,191 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Intel by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock valued at $759,127,000 after acquiring an additional 656,583 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In related 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 transaction of $650,000.00. Following the completion of the sale, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INTC. Morgan Stanley cut their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and cut their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six 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, the company presently has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel Trading Down 0.8 %

INTC opened at $24.01 on Thursday. The stock has a 50-day moving average of $23.00 and a 200-day moving average of $26.20. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. 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 released its quarterly 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). The company had revenue of $13.30 billion for 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%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 EPS. Equities analysts forecast that Intel Co. will post -0.83 earnings per share for the current fiscal 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.