9,026 Shares in Intel Co. (NASDAQ:INTC) Acquired by Silver Coast Investments LLC

Silver Coast Investments LLC purchased a new position in Intel Co. (NASDAQ:INTC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 9,026 shares of the chip maker’s stock, valued at approximately $212,000.

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

Insider Buying and Selling

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 purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

INTC has been the topic of several recent analyst reports. The Goldman Sachs Group decreased 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. Benchmark restated a “hold” rating on shares of Intel in a report on Friday. Morgan Stanley dropped their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Tuesday. Finally, Truist Financial cut their price target on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Six investment 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 data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.58.

Intel Stock Performance

INTC stock traded up $1.56 during trading on Friday, hitting $23.08. The company had a trading volume of 49,756,652 shares, compared to its average volume of 58,804,180. The firm has a market cap of $98.69 billion, a PE ratio of 100.35 and a beta of 1.03. 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 firm has a 50-day moving average price of $21.74 and a 200-day moving average price of $27.12. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

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