First Horizon Advisors Inc. Trims Position in Intel Co. (NASDAQ:INTC)

First Horizon Advisors Inc. decreased its position in shares of Intel Co. (NASDAQ:INTC) by 14.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 64,989 shares of the chip maker’s stock after selling 10,782 shares during the quarter. First Horizon Advisors Inc.’s holdings in Intel were worth $1,525,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. William B. Walkup & Associates Inc. acquired a new stake in Intel during the second quarter worth $2,178,000. Swiss National Bank increased its position in shares of Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after acquiring an additional 31,800 shares during the last quarter. Fortis Group Advisors LLC raised its stake in shares of Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after acquiring an additional 157,991 shares during the period. Mizuho Securities Co. Ltd. lifted its holdings in shares of Intel by 2,910.4% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock worth $678,000 after acquiring an additional 27,940 shares during the last quarter. Finally, Private Advisory Group LLC acquired a new position in Intel during the third quarter worth $8,045,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

INTC opened at $24.01 on Thursday. The company’s 50 day simple moving average is $23.00 and its 200-day simple moving average is $26.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The stock has a market capitalization of $103.56 billion, a P/E ratio of -6.45 and a beta of 1.03. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last posted 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 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%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.28 earnings per share. Sell-side analysts anticipate that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insider Activity

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

Analysts Set New Price Targets

Several research firms have recently commented on INTC. Robert W. Baird raised their price objective 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. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. JPMorgan Chase & Co. dropped their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Barclays cut their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Mizuho upped their price objective on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.12.

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.