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

Peak Asset Management LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 14.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,945 shares of the chip maker’s stock after selling 1,850 shares during the period. Peak Asset Management LLC’s holdings in Intel were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTC. Cable Hill Partners LLC grew its holdings in shares of Intel by 9.0% during the 3rd quarter. Cable Hill Partners LLC now owns 22,364 shares of the chip maker’s stock worth $525,000 after purchasing an additional 1,839 shares during the period. Mizuho Securities Co. Ltd. lifted its holdings in shares of Intel by 2,910.4% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after acquiring an additional 27,940 shares in the last quarter. ICICI Prudential Asset Management Co Ltd increased its holdings in Intel by 19.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 55,821 shares of the chip maker’s stock valued at $1,310,000 after purchasing an additional 9,057 shares in the last quarter. Angeles Investment Advisors LLC lifted its stake in shares of Intel by 40.5% during the third quarter. Angeles Investment Advisors LLC now owns 14,775 shares of the chip maker’s stock worth $347,000 after purchasing an additional 4,260 shares in the last quarter. Finally, Encompass Wealth Advisors LLC grew its stake in shares of Intel by 19.7% in the third quarter. Encompass Wealth Advisors LLC now owns 18,893 shares of the chip maker’s stock valued at $443,000 after buying an additional 3,114 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, 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 is available at this hyperlink. Company insiders own 0.04% of the company’s stock.

Intel Trading Up 3.1 %

Shares of NASDAQ:INTC opened at $24.92 on Thursday. 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 company’s 50-day moving average price is $22.36 and its 200 day moving average price is $26.43. The company has a market cap of $107.48 billion, a PE 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.

Intel (NASDAQ:INTC) last issued 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Intel Co. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INTC shares. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price objective (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Cantor Fitzgerald cut their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Finally, Rosenblatt Securities restated a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Six 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 stock. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average target price 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.