Anchor Investment Management LLC Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Anchor Investment Management LLC lowered its stake in Intel Co. (NASDAQ:INTC) by 29.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,836 shares of the chip maker’s stock after selling 22,361 shares during the period. Anchor Investment Management LLC’s holdings in Intel were worth $1,240,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. America First Investment Advisors LLC acquired a new position in shares of Intel in the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel in the second quarter valued at approximately $27,000. Quest Partners LLC increased its holdings in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. Spartan Fund Management Inc. acquired a new position in shares of Intel in the second quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Intel in the second quarter valued at approximately $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on INTC shares. The Goldman Sachs Group dropped their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Robert W. Baird lifted their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Northland Securities decreased 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. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.04.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ:INTC opened at $20.78 on Friday. 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 Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The stock’s fifty day simple moving average is $23.19 and its 200-day simple moving average is $25.33.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that Intel Co. will post -0.87 EPS for the current 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.