KBC Group NV Sells 124,317 Shares of Intel Co. (NASDAQ:INTC)

KBC Group NV lowered its position in Intel Co. (NASDAQ:INTC) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,135,764 shares of the chip maker’s stock after selling 124,317 shares during the quarter. KBC Group NV’s holdings in Intel were worth $26,645,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. America First Investment Advisors LLC acquired a new position in Intel during the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel during the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. bought a new stake in shares of Intel during the second quarter worth $31,000. Financial Connections Group Inc. bought a new position in shares of Intel during the second quarter worth about $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 owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. JPMorgan Chase & Co. dropped their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley lowered their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Roth Mkm decreased their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Robert W. Baird raised their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Mizuho lifted their price objective on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.12.

Intel Trading Down 2.7 %

Shares of INTC opened at $24.35 on Friday. The firm’s 50-day moving average price is $22.58 and its 200-day moving average price is $26.41. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $105.02 billion, a price-to-earnings ratio of -6.55 and a beta of 1.03. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the prior year, the company posted $0.28 earnings per share. The company’s revenue was down 6.3% on a year-over-year basis. Sell-side analysts anticipate that Intel Co. will post -0.83 EPS for the current year.

Insider Buying and Selling

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 value 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. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate 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.