Gemmer Asset Management LLC Sells 3,742 Shares of Intel Co. (NASDAQ:INTC)

Gemmer Asset Management LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 24.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,476 shares of the chip maker’s stock after selling 3,742 shares during the period. Gemmer Asset Management LLC’s holdings in Intel were worth $230,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of INTC. Cyrus J. Lawrence LLC acquired a new position in Intel during the second quarter worth $27,000. Quest Partners LLC boosted its stake in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares in the last quarter. West Financial Advisors LLC acquired a new position in shares of Intel during the 4th quarter valued at about $31,000. Groupama Asset Managment raised its stake in shares of Intel by 6.3% in the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after acquiring an additional 8,084 shares in the last quarter. Finally, Sawyer & Company Inc acquired a new stake in Intel in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on INTC shares. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Barclays dropped their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday. 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, November 1st. Mizuho cut their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Six 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $29.88.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Intel Trading Up 9.3 %

Shares of Intel stock opened at $21.49 on Monday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $50.30. The company has a 50-day simple moving average of $21.55 and a 200 day simple moving average of $23.27. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued 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). The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. Analysts predict that Intel Co. will post -0.87 earnings per share 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.