Accent Capital Management LLC Acquires 7,679 Shares of Intel Co. (NASDAQ:INTC)

Accent Capital Management LLC lifted its holdings in shares of Intel Co. (NASDAQ:INTC) by 415.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,529 shares of the chip maker’s stock after purchasing an additional 7,679 shares during the period. Accent Capital Management LLC’s holdings in Intel were worth $224,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTC. America First Investment Advisors LLC bought a new stake in Intel during the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the second quarter worth approximately $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel during the second quarter worth approximately $31,000. Financial Connections Group Inc. bought a new stake in shares of Intel during the second quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $33,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Price Performance

Shares of INTC stock opened at $24.35 on Friday. The firm’s fifty day moving average price is $22.69 and its two-hundred day moving average price is $26.33. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its quarterly earnings results 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 company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts expect that Intel Co. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Susquehanna cut their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a research note on Monday, August 26th. Finally, HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. Six investment 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 stock. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus target price of $30.12.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The shares were 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 owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.04% of the stock is owned by corporate insiders.

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.