Fifth Third Wealth Advisors LLC Lowers Holdings in Intel Co. (NASDAQ:INTC)

Fifth Third Wealth Advisors LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 30.2% during the 4th quarter, HoldingsChannel reports. The fund owned 39,272 shares of the chip maker’s stock after selling 16,978 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Intel were worth $787,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Edgestream Partners L.P. grew its stake in shares of Intel by 74.1% during the 2nd quarter. Edgestream Partners L.P. now owns 12,043 shares of the chip maker’s stock valued at $373,000 after buying an additional 5,124 shares during the period. SYSTM Wealth Solutions LLC grew its position in Intel by 13.0% during the second quarter. SYSTM Wealth Solutions LLC now owns 13,029 shares of the chip maker’s stock valued at $404,000 after acquiring an additional 1,504 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Intel by 12.0% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 69,999 shares of the chip maker’s stock worth $2,168,000 after purchasing an additional 7,501 shares during the period. Sienna Gestion raised its holdings in shares of Intel by 2.2% in the 2nd quarter. Sienna Gestion now owns 265,757 shares of the chip maker’s stock worth $8,227,000 after purchasing an additional 5,598 shares during the period. Finally, Garner Asset Management Corp lifted its stake in shares of Intel by 3.8% in the 2nd quarter. Garner Asset Management Corp now owns 16,434 shares of the chip maker’s stock valued at $509,000 after purchasing an additional 604 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intel

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Bank of America restated an “underperform” rating and set a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Truist Financial raised their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Mizuho decreased their target price on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Finally, Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average target price of $29.96.

Intel Stock Down 0.2 %

INTC stock opened at $19.69 on Friday. The firm has a market cap of $84.90 billion, a price-to-earnings ratio of -5.29, a PEG ratio of 8.53 and a beta of 1.07. Intel Co. has a 1-year low of $18.51 and a 1-year high of $50.30. The firm has a fifty day moving average price of $21.78 and a two-hundred day moving average price of $23.47. 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 (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the prior year, the company earned $0.28 EPS. Intel’s quarterly revenue was down 6.3% on a year-over-year basis. Research analysts predict that Intel Co. will post -0.87 EPS for the current 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.