Simmons Bank Sells 2,981 Shares of Intel Co. (NASDAQ:INTC)

Simmons Bank trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 5.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,463 shares of the chip maker’s stock after selling 2,981 shares during the quarter. Simmons Bank’s holdings in Intel were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. America First Investment Advisors LLC bought a new position in shares of Intel in the second quarter worth approximately $25,000. Cyrus J. Lawrence LLC bought a new stake in Intel in the 2nd quarter worth $27,000. Spartan Fund Management Inc. purchased a new position in shares of Intel in the second quarter valued at about $31,000. Financial Connections Group Inc. bought a new position in shares of Intel during the second quarter valued at about $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel during the second quarter worth about $33,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on INTC. Cantor Fitzgerald reduced their price target on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. The Goldman Sachs Group reduced their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Northland Securities dropped their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Barclays reduced their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.12.

Intel Stock Up 3.1 %

NASDAQ:INTC opened at $24.92 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The firm has a market cap of $107.48 billion, a P/E ratio of -6.70 and a beta of 1.03. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The firm has a 50-day simple moving average of $22.36 and a two-hundred day simple moving average of $26.43.

Intel (NASDAQ:INTC) last announced its quarterly earnings results 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). 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%. Intel’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. Analysts predict that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 in the company, valued at approximately $7,104,708. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

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.