Associated Banc Corp Sells 87,945 Shares of Intel Co. (NASDAQ:INTC)

Associated Banc Corp trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 41.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,117 shares of the chip maker’s stock after selling 87,945 shares during the quarter. Associated Banc Corp’s holdings in Intel were worth $2,935,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Primecap Management Co. CA lifted its holdings in shares of Intel by 2.2% in the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Intel by 27.2% during the third 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 last quarter. Legal & General Group Plc boosted its holdings in shares of Intel by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after acquiring an additional 487,191 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Intel by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after buying an additional 2,248,332 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Intel by 2.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock valued at $759,127,000 after buying an additional 656,583 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

NASDAQ INTC opened at $24.87 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $107.26 billion, a PE ratio of -6.69 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The firm’s 50-day simple moving average is $23.27 and its two-hundred day simple moving average is $26.05.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.02 billion. During the same period last year, the business posted $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Research analysts predict that Intel Co. will post -0.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INTC. Cantor Fitzgerald cut their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Wedbush dropped their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Roth Mkm decreased their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Truist Financial raised their target price on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $30.12.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, 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.