Intel Co. (NASDAQ:INTC) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 41.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 78,560 shares of the chip maker’s stock after selling 56,203 shares during the period. Oak Asset Management LLC’s holdings in Intel were worth $1,575,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the second quarter worth about $27,000. Fairfield Financial Advisors LTD acquired a new stake in Intel during the 2nd quarter valued at approximately $35,000. Quest Partners LLC increased its holdings in Intel by 7,370.6% during 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 during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Intel in the 3rd quarter valued at approximately $34,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Intel in the 3rd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s 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 transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of a number of research analyst reports. Northland Securities dropped their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. 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. Rosenblatt Securities restated a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. The Goldman Sachs Group decreased their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Finally, Mizuho cut their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus target price of $29.96.

Intel Price Performance

NASDAQ:INTC opened at $19.20 on Tuesday. 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 business’s 50-day moving average price is $21.97 and its 200 day moving average price is $23.58. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30. The firm has a market cap of $82.81 billion, a P/E ratio of -5.16 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 for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the prior year, the business earned $0.28 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. As a group, sell-side analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

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.