Bruce G. Allen Investments LLC Cuts Position in Intel Co. (NASDAQ:INTC)

Bruce G. Allen Investments LLC trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 47.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,438 shares of the chip maker’s stock after selling 1,318 shares during the period. Bruce G. Allen Investments LLC’s holdings in Intel were worth $29,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Cyrus J. Lawrence LLC bought a new stake in Intel in the second quarter worth $27,000. Quest Partners LLC boosted its stake in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares in the last quarter. Groupama Asset Managment grew its position in Intel by 6.3% during the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after purchasing an additional 8,084 shares during the last quarter. FSA Wealth Management LLC bought a new stake in Intel during the 3rd quarter valued at about $34,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Intel in the second quarter worth about $35,000. 64.53% of the stock is owned by institutional investors.

Intel Price Performance

Shares of NASDAQ:INTC traded down $0.74 during trading on Friday, hitting $19.14. 56,323,083 shares of the company’s stock were exchanged, compared to its average volume of 56,641,211. The business’s 50-day simple moving average is $22.12 and its 200 day simple moving average is $23.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30. The company has a market cap of $82.55 billion, a price-to-earnings ratio of -5.15 and a beta of 1.07.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Intel Co. will post -0.87 EPS for the current year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Bank of America reissued an “underperform” rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Northland Securities dropped their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Mizuho lowered their price objective on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft cut 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. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $29.96.

Intel 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.