Intel Co. (NASDAQ:INTC) Position Reduced by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its position in shares of Intel Co. (NASDAQ:INTC) by 25.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,184 shares of the chip maker’s stock after selling 24,064 shares during the period. Advisors Asset Management Inc.’s holdings in Intel were worth $1,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INTC. America First Investment Advisors LLC bought a new stake in Intel during the second quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the second quarter worth approximately $27,000. Quest Partners LLC grew its position in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. acquired a new position in Intel in the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position in Intel in the second quarter worth approximately $32,000. Institutional investors own 64.53% of the company’s stock.

Intel Stock Up 0.2 %

Shares of INTC opened at $24.50 on Monday. The company has a 50-day simple moving average of $23.19 and a 200-day simple moving average of $26.08. The firm has a market capitalization of $105.67 billion, a P/E ratio of -6.59 and a beta of 1.03. 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 Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Wedbush decreased their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, Roth Mkm lowered their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.12.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $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 is available through this hyperlink. 0.04% of the stock is currently owned by 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.