Gulf International Bank UK Ltd Sells 14,596 Shares of Intel Co. (NASDAQ:INTC)

Gulf International Bank UK Ltd reduced its stake in Intel Co. (NASDAQ:INTC) by 4.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 338,132 shares of the chip maker’s stock after selling 14,596 shares during the period. Gulf International Bank UK Ltd’s holdings in Intel were worth $7,932,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of INTC. William B. Walkup & Associates Inc. bought a new position in Intel in the 2nd quarter valued at $2,178,000. Fortis Group Advisors LLC lifted its holdings in Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after buying an additional 157,991 shares in the last quarter. Private Advisory Group LLC acquired a new stake in shares of Intel in the 3rd quarter valued at $8,045,000. Sanibel Captiva Trust Company Inc. raised its holdings in Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after purchasing an additional 48,765 shares during the last quarter. Finally, Forsta AP Fonden raised its stake in shares of Intel by 4.6% during the third quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock worth $22,267,000 after buying an additional 41,900 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on INTC. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Hsbc Global Res downgraded Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Argus downgraded Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. decreased their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Six investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.12.

Intel Trading Down 2.9 %

Intel stock opened at $22.52 on Tuesday. The stock has a fifty 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 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 $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.28 EPS. Equities research analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

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.