Intel Co. (NASDAQ:INTC) Shares Sold by Greenwood Capital Associates LLC

Greenwood Capital Associates LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 229,424 shares of the chip maker’s stock after selling 15,760 shares during the period. Greenwood Capital Associates LLC’s holdings in Intel were worth $5,382,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norden Group LLC raised its stake in shares of Intel by 27.8% during the first quarter. Norden Group LLC now owns 14,412 shares of the chip maker’s stock worth $637,000 after purchasing an additional 3,133 shares during the last quarter. Jennison Associates LLC raised its holdings in Intel by 71.4% during the first quarter. Jennison Associates LLC now owns 1,048,893 shares of the chip maker’s stock worth $46,330,000 after purchasing an additional 437,060 shares in the last quarter. Proficio Capital Partners LLC increased its position in Intel by 3.9% during the 1st quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock worth $400,000 after purchasing an additional 343 shares during the period. Rehmann Capital Advisory Group grew its holdings in Intel by 1.6% during the first quarter. Rehmann Capital Advisory Group now owns 22,506 shares of the chip maker’s stock worth $994,000 after acquiring an additional 360 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its position in Intel by 73.5% in the first quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 7,962 shares of the chip maker’s stock worth $352,000 after acquiring an additional 3,372 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INTC. Wedbush lowered their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Truist Financial raised their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday. Finally, Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

Shares of INTC stock opened at $22.52 on Tuesday. The company’s fifty day simple moving average is $21.84 and its 200-day simple moving average is $26.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. On average, equities research analysts expect that Intel Co. will post -0.47 earnings per share 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.