Old North State Trust LLC Reduces Stake in Intel Co. (NASDAQ:INTC)

Old North State Trust LLC decreased its position in Intel Co. (NASDAQ:INTC) by 37.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,110 shares of the chip maker’s stock after selling 9,075 shares during the period. Old North State Trust LLC’s holdings in Intel were worth $354,000 at the end of the most recent reporting period.

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

Intel Stock Performance

Shares of Intel stock opened at $20.78 on Friday. The firm has a market cap of $89.62 billion, a PE ratio of -5.59 and a beta of 1.05. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm’s 50-day simple moving average is $23.17 and its 200-day simple moving average is $25.30. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 EPS. Equities analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company’s stock, 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 filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Northland Securities lowered their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Bank of America restated an “underperform” rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. TD Cowen raised shares of Intel to a “hold” rating in a research report on Monday, September 16th. Mizuho increased their price target on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Daiwa America upgraded Intel to a “hold” rating in a report on Monday, August 26th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.04.

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.