Intel Co. (NASDAQ:INTC) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 38.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,713 shares of the chip maker’s stock after selling 53,680 shares during the period. King Luther Capital Management Corp’s holdings in Intel were worth $2,034,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of INTC. America First Investment Advisors LLC bought a new stake in shares of Intel during the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the second quarter valued at approximately $27,000. Spartan Fund Management Inc. bought a new stake in Intel during the second quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new stake in Intel in the second quarter worth approximately $32,000. Finally, Triad Wealth Partners LLC bought a new position in Intel during the 2nd quarter valued at $33,000. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on INTC. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Susquehanna lowered their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald cut their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Wedbush reduced their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” 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 given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.12.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Trading Up 0.2 %

NASDAQ INTC opened at $24.50 on Friday. 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 Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The firm’s fifty day simple moving average is $23.19 and its 200-day simple moving average is $26.14. The company has a market capitalization of $105.67 billion, a PE ratio of -6.59 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its earnings results 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 during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. As a group, sell-side analysts anticipate that Intel Co. will post -0.83 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.