Oak Harbor Wealth Partners LLC Trims Stock Holdings in Intel Co. (NASDAQ:INTC)

Oak Harbor Wealth Partners LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 28.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,524 shares of the chip maker’s stock after selling 4,284 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Intel were worth $247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of INTC. Guardian Capital Advisors LP boosted its stake in Intel by 2.1% during the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock worth $708,000 after buying an additional 328 shares during the period. Key Financial Inc boosted its stake in Intel by 4.1% during the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after buying an additional 340 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co boosted its stake in Intel by 1.4% during the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after buying an additional 348 shares during the period. Cypress Asset Management Inc. TX boosted its stake in shares of Intel by 1.6% in the first quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock valued at $1,015,000 after purchasing an additional 350 shares during the period. Finally, Cidel Asset Management Inc. boosted its stake in shares of Intel by 0.6% in the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock valued at $2,000,000 after purchasing an additional 381 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’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 directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on INTC shares. Morgan Stanley lowered their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Truist Financial raised their target price on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Six investment 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Stock Performance

INTC opened at $25.03 on Friday. 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 Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The firm has a 50-day simple moving average of $22.47 and a two-hundred day simple moving average of $26.42.

Intel (NASDAQ:INTC) last posted 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). The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. Equities analysts predict that Intel Co. will post -0.83 EPS 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.