Intel Co. (NASDAQ:INTC) Stock Holdings Lessened by Associated Banc Corp

Associated Banc Corp lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 41.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 125,117 shares of the chip maker’s stock after selling 87,945 shares during the period. Associated Banc Corp’s holdings in Intel were worth $2,935,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. America First Investment Advisors LLC acquired a new stake in Intel during the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the 2nd quarter valued at approximately $27,000. Quest Partners LLC lifted its position in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. acquired a new stake in shares of Intel during the 2nd quarter valued at $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Intel during the 2nd quarter valued at $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 8.38 % 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. Company insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Morgan Stanley cut their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald lowered their price target on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, JPMorgan Chase & Co. lowered their price target on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

Shares of INTC stock opened at $24.87 on Tuesday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company’s fifty day simple moving average is $23.27 and its 200-day simple moving average is $26.05. The firm has a market cap of $107.26 billion, a PE ratio of -6.69 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced 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 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 the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 EPS. Intel’s revenue was down 6.3% on a year-over-year basis. Equities research analysts expect that Intel Co. will post -0.83 EPS for the current fiscal year.

Intel Company 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.