Ballast Inc. Buys 8,980 Shares of Intel Co. (NASDAQ:INTC)

Ballast Inc. increased its stake in shares of Intel Co. (NASDAQ:INTC) by 26.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 42,831 shares of the chip maker’s stock after buying an additional 8,980 shares during the period. Ballast Inc.’s holdings in Intel were worth $859,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cyrus J. Lawrence LLC bought a new position in shares of Intel during the second quarter worth approximately $27,000. Quest Partners LLC increased its position 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 buying an additional 1,253 shares during the period. FSA Wealth Management LLC bought a new stake in shares of Intel in the third quarter valued at about $34,000. Capital Performance Advisors LLP bought a new stake in shares of Intel in the third quarter valued at about $36,000. Finally, West Financial Advisors LLC bought a new position in Intel during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INTC. The Goldman Sachs Group dropped their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Mizuho dropped their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Northland Securities cut their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $29.88.

Intel Stock Performance

NASDAQ INTC opened at $21.49 on Friday. The business’s 50 day moving average price is $21.55 and its 200-day moving average price is $23.32. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $50.30. 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 posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by insiders.

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.