Greenwood Capital Associates LLC Sells 15,760 Shares of Intel Co. (NASDAQ:INTC)

Greenwood Capital Associates LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 6.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 229,424 shares of the chip maker’s stock after selling 15,760 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Intel were worth $5,382,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in INTC. America First Investment Advisors LLC bought a new position in Intel during the second quarter valued at about $25,000. Cyrus J. Lawrence LLC bought a new stake in Intel in the second quarter valued at about $27,000. Spartan Fund Management Inc. bought a new position in Intel during the second quarter worth about $31,000. Financial Connections Group Inc. bought a new position in Intel during the second quarter worth about $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in Intel during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Down 2.9 %

Intel stock opened at $22.52 on Tuesday. The business has a 50-day moving average of $21.84 and a 200-day moving average of $26.81. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the firm posted $0.28 earnings per share. The firm’s revenue was down 6.3% on a year-over-year basis. As a group, sell-side analysts expect that Intel Co. will post -0.47 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on INTC. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. Robert W. Baird lifted their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday. Finally, Morgan Stanley decreased their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note 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, the stock has a consensus rating of “Hold” and an average price target of $30.12.

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.