Empower Advisory Group LLC Decreases Holdings in Intel Co. (NASDAQ:INTC)

Empower Advisory Group LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 95.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 71,512 shares of the chip maker’s stock after selling 1,680,853 shares during the quarter. Empower Advisory Group LLC’s holdings in Intel were worth $1,678,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. HBK Sorce Advisory LLC increased its holdings in Intel by 1.1% in the 1st quarter. HBK Sorce Advisory LLC now owns 43,164 shares of the chip maker’s stock worth $1,907,000 after acquiring an additional 470 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in Intel by 1.9% in the 1st quarter. Orion Portfolio Solutions LLC now owns 100,220 shares of the chip maker’s stock worth $4,427,000 after purchasing an additional 1,900 shares during the period. Trillium Asset Management LLC boosted its stake in Intel by 28.5% in the 1st quarter. Trillium Asset Management LLC now owns 589,654 shares of the chip maker’s stock worth $26,045,000 after purchasing an additional 130,796 shares during the period. Dorsey & Whitney Trust CO LLC boosted its stake in Intel by 1.4% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 41,162 shares of the chip maker’s stock worth $1,818,000 after purchasing an additional 588 shares during the period. Finally, Great Lakes Retirement Inc. boosted its stake in Intel by 3.4% in the 1st quarter. Great Lakes Retirement Inc. now owns 25,864 shares of the chip maker’s stock worth $1,142,000 after purchasing an additional 841 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on INTC shares. Susquehanna cut their target price on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Finally, UBS Group dropped their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six 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’s stock. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $30.12.

Intel Price Performance

INTC opened at $24.92 on Thursday. The business has a fifty day moving average of $22.36 and a 200 day moving average of $26.43. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. 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 stock has a market cap of $107.48 billion, a P/E ratio of -6.70 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 analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.28 earnings per share. As a group, sell-side analysts anticipate that Intel Co. will post -0.83 EPS for the current year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The stock was 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 directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

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.