Continuum Advisory LLC Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Continuum Advisory LLC lowered its position in shares of Intel Co. (NASDAQ:INTC) by 20.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 8,870 shares of the chip maker’s stock after selling 2,293 shares during the quarter. Continuum Advisory LLC’s holdings in Intel were worth $222,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in INTC. ORG Partners LLC raised its position in Intel by 612.3% in the 2nd quarter. ORG Partners LLC now owns 23,982 shares of the chip maker’s stock worth $740,000 after buying an additional 20,615 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of Intel by 7.8% during the second quarter. Cornerstone Wealth Management LLC now owns 41,561 shares of the chip maker’s stock valued at $1,287,000 after purchasing an additional 3,017 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new position in Intel during the second quarter valued at approximately $542,000. SWS Partners boosted its holdings in Intel by 13.5% in the second quarter. SWS Partners now owns 127,582 shares of the chip maker’s stock worth $3,948,000 after purchasing an additional 15,150 shares during the last quarter. Finally, Corundum Group Inc. grew its position in Intel by 40.4% in the 2nd quarter. Corundum Group Inc. now owns 56,528 shares of the chip maker’s stock worth $1,751,000 after purchasing an additional 16,266 shares during the period. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INTC. The Goldman Sachs Group lowered their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Daiwa America raised Intel to a “hold” rating in a report on Monday, August 26th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Bank of America reissued an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $30.04.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s 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 $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is currently owned by company insiders.

Intel Stock Down 3.1 %

NASDAQ INTC opened at $20.16 on Wednesday. The stock has a 50 day moving average price of $23.29 and a 200-day moving average price of $25.44. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a market capitalization of $86.95 billion, a P/E ratio of -5.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the business earned $0.28 EPS. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, equities analysts predict that Intel Co. will post -0.87 EPS 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.