Victory Capital Management Inc. Sells 28,466 Shares of Intel Co. (NASDAQ:INTC)

Victory Capital Management Inc. lowered its position in shares of Intel Co. (NASDAQ:INTC) by 0.9% in the third quarter, HoldingsChannel reports. The fund owned 3,264,530 shares of the chip maker’s stock after selling 28,466 shares during the period. Victory Capital Management Inc.’s holdings in Intel were worth $76,586,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in INTC. HBK Sorce Advisory LLC grew its stake in shares of Intel by 1.1% during the first quarter. HBK Sorce Advisory LLC now owns 43,164 shares of the chip maker’s stock worth $1,907,000 after purchasing an additional 470 shares during the period. Orion Portfolio Solutions LLC grew its stake in shares of Intel by 1.9% during the first quarter. Orion Portfolio Solutions LLC now owns 100,220 shares of the chip maker’s stock worth $4,427,000 after purchasing an additional 1,900 shares during the period. Trillium Asset Management LLC grew its stake in shares of Intel by 28.5% during the first quarter. Trillium Asset Management LLC now owns 589,654 shares of the chip maker’s stock worth $26,045,000 after purchasing an additional 130,796 shares during the period. Dorsey & Whitney Trust CO LLC grew its stake in shares of Intel by 1.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 41,162 shares of the chip maker’s stock worth $1,818,000 after purchasing an additional 588 shares during the period. Finally, Great Lakes Retirement Inc. grew its stake in shares of Intel by 3.4% during the first quarter. Great Lakes Retirement Inc. now owns 25,864 shares of the chip maker’s stock worth $1,142,000 after purchasing an additional 841 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

INTC opened at $24.92 on Thursday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The firm has a market capitalization of $107.48 billion, a PE ratio of -6.70 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The business’s 50-day simple moving average is $22.36 and its 200 day simple moving average is $26.43.

Intel (NASDAQ:INTC) last released 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). The business had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.28 EPS. As a group, sell-side analysts expect that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

INTC has been the subject of a number of analyst reports. Argus cut Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Hsbc Global Res cut Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. Finally, Truist Financial boosted their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Six investment 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 data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average target price of $30.12.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’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 sale, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

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.