SOL Capital Management CO Sells 21,235 Shares of Intel Co. (NASDAQ:INTC)

SOL Capital Management CO cut its holdings in Intel Co. (NASDAQ:INTC) by 16.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 105,888 shares of the chip maker’s stock after selling 21,235 shares during the period. SOL Capital Management CO’s holdings in Intel were worth $2,123,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC boosted its position in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after buying an additional 19,625 shares during the period. Principal Financial Group Inc. grew its stake in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after buying an additional 204,200 shares during the last quarter. Empirical Asset Management LLC purchased a new stake in shares of Intel in the fourth quarter worth approximately $276,000. Finally, Swiss National Bank lifted its stake in shares of Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after acquiring an additional 31,800 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INTC. Truist Financial boosted their target price on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and issued a $20.00 price objective on shares of Intel in a research report on Thursday. UBS Group reduced their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Mizuho lowered their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Finally, Barclays reduced their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Five research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, Intel presently has an average rating of “Hold” and an average price target of $28.00.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is owned by insiders.

Intel Stock Up 1.3 %

Shares of Intel stock opened at $20.01 on Friday. The firm’s fifty day simple moving average is $20.97 and its 200-day simple moving average is $22.63. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. As a group, analysts anticipate that Intel Co. will post -0.87 earnings per share for the current 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.