Old Port Advisors Sells 3,944 Shares of Intel Co. (NASDAQ:INTC)

Old Port Advisors trimmed its position in Intel Co. (NASDAQ:INTC) by 5.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 67,133 shares of the chip maker’s stock after selling 3,944 shares during the period. Old Port Advisors’ holdings in Intel were worth $1,346,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp lifted its holdings in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after purchasing an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares during the period. Institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of several research analyst reports. Bank of America reiterated an “underperform” rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Truist Financial upped their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. The Goldman Sachs Group lowered their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.04.

Intel Stock Performance

NASDAQ:INTC traded up $0.21 during mid-day trading on Thursday, hitting $20.26. 12,159,546 shares of the stock were exchanged, compared to its average volume of 61,639,930. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm’s 50-day simple moving average is $22.40 and its 200 day simple moving average is $24.24. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $50.30. The stock has a market capitalization of $87.38 billion, a price-to-earnings ratio of -5.45 and a beta of 1.05.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 in the previous year, the company earned $0.28 EPS. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Buying and Selling at Intel

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