Financial Counselors Inc. Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

Financial Counselors Inc. trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 4.2% in the third quarter, Holdings Channel.com reports. The fund owned 226,765 shares of the chip maker’s stock after selling 9,870 shares during the period. Financial Counselors Inc.’s holdings in Intel were worth $5,320,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Key Financial Inc raised its holdings in Intel by 4.1% during the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after purchasing an additional 340 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Intel by 1.4% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after buying an additional 348 shares in the last quarter. Cypress Asset Management Inc. TX grew its stake in Intel by 1.6% in the 1st quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after acquiring an additional 350 shares during the last quarter. Cidel Asset Management Inc. increased its holdings in Intel by 0.6% during the 2nd quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock valued at $2,000,000 after acquiring an additional 381 shares in the last quarter. Finally, Alhambra Investment Management LLC increased its holdings in Intel by 5.9% during the 2nd quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock valued at $217,000 after acquiring an additional 389 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction dated 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 directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was 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 this link. 0.04% of the stock is currently owned by insiders.

Intel Stock Down 1.7 %

Shares of NASDAQ INTC opened at $23.65 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.31 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 stock’s 50-day simple moving average is $23.43 and its 200-day simple moving average is $25.97.

Intel (NASDAQ:INTC) last posted 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). The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. As a group, analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INTC shares. New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Morgan Stanley lowered their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. 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 note on Thursday, October 3rd. Six equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $30.12.

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.