Weatherly Asset Management L. P. Decreases Holdings in Intel Co. (NASDAQ:INTC)

Weatherly Asset Management L. P. trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 1.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,885 shares of the chip maker’s stock after selling 558 shares during the period. Weatherly Asset Management L. P.’s holdings in Intel were worth $983,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. William B. Walkup & Associates Inc. purchased a new position in Intel in the 2nd quarter worth approximately $2,178,000. Fortis Group Advisors LLC increased its stake in Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the period. Private Advisory Group LLC purchased a new position in Intel in the 3rd quarter worth approximately $8,045,000. Sanibel Captiva Trust Company Inc. increased its stake in Intel by 21.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after purchasing an additional 48,765 shares during the period. Finally, Forsta AP Fonden increased its stake in Intel by 4.6% in the 3rd quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock worth $22,267,000 after purchasing an additional 41,900 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Daiwa America raised Intel to a “hold” rating in a research note on Monday, August 26th. Susquehanna decreased their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Roth Mkm cut their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, 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 report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.12.

Intel Price Performance

Shares of NASDAQ INTC opened at $23.20 on Friday. The firm has a market cap of $99.20 billion, a P/E ratio of -6.24 and a beta of 1.03. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $21.79 and a 200 day moving average of $27.02.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same quarter in the prior year, the firm earned ($0.05) EPS. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. As a group, research analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by insiders.

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.