King Luther Capital Management Corp Reduces Position in Intel Co. (NASDAQ:INTC)

King Luther Capital Management Corp reduced its stake in Intel Co. (NASDAQ:INTC) by 38.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,713 shares of the chip maker’s stock after selling 53,680 shares during the quarter. King Luther Capital Management Corp’s holdings in Intel were worth $2,034,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. America First Investment Advisors LLC acquired a new stake in shares of Intel during the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel during the second quarter valued at approximately $27,000. Spartan Fund Management Inc. purchased a new position in shares of Intel during the second quarter valued at approximately $31,000. Financial Connections Group Inc. acquired a new stake in Intel during the second quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in Intel in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Stock Up 0.2 %

Shares of NASDAQ:INTC opened at $24.50 on Friday. The company’s fifty day moving average is $23.19 and its two-hundred day moving average is $26.14. 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 1-year low of $18.51 and a 1-year high of $51.28. The stock has a market capitalization of $105.67 billion, a price-to-earnings ratio of -6.59 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter last year, the company earned $0.28 EPS. Intel’s revenue was down 6.3% compared to the same quarter last year. Equities analysts anticipate that Intel Co. will post -0.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INTC shares. Barclays reduced their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Truist Financial increased their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, TD Cowen upgraded shares of Intel to a “hold” rating in a report on Monday, September 16th. Six 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.12.

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.