Diversify Advisory Services LLC Sells 468 Shares of Intel Co. (NASDAQ:INTC)

Diversify Advisory Services LLC lowered its position in Intel Co. (NASDAQ:INTC) by 3.9% in the third quarter, Holdings Channel.com reports. The fund owned 11,405 shares of the chip maker’s stock after selling 468 shares during the period. Diversify Advisory Services LLC’s holdings in Intel were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of INTC. Fortitude Family Office LLC increased its holdings in Intel by 158.0% in the 3rd quarter. Fortitude Family Office LLC now owns 12,729 shares of the chip maker’s stock valued at $299,000 after buying an additional 7,796 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Intel by 111.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 54,238 shares of the chip maker’s stock valued at $1,272,000 after acquiring an additional 28,642 shares during the period. Traynor Capital Management Inc. raised its position in Intel by 49.9% in the third quarter. Traynor Capital Management Inc. now owns 11,766 shares of the chip maker’s stock worth $276,000 after purchasing an additional 3,917 shares in the last quarter. abrdn plc lifted its stake in Intel by 16.2% during the third quarter. abrdn plc now owns 6,955,437 shares of the chip maker’s stock worth $163,279,000 after purchasing an additional 970,626 shares during the period. Finally, Pallas Capital Advisors LLC boosted its holdings in Intel by 14.1% during the third quarter. Pallas Capital Advisors LLC now owns 24,022 shares of the chip maker’s stock valued at $537,000 after purchasing an additional 2,962 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INTC. Deutsche Bank Aktiengesellschaft lowered their price target on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday. Cantor Fitzgerald decreased their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, UBS Group cut their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.12.

Intel Price Performance

INTC stock opened at $23.20 on Friday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The business has a 50-day simple moving average of $21.79 and a two-hundred day simple moving average of $27.02. The company has a market capitalization of $99.20 billion, a P/E ratio of -6.24 and a beta of 1.03.

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

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.