Intel Co. (NASDAQ:INTC) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its stake in Intel Co. (NASDAQ:INTC) by 26.4% in the 3rd quarter, Holdings Channel reports. The firm owned 180,322 shares of the chip maker’s stock after selling 64,845 shares during the period. Fisher Asset Management LLC’s holdings in Intel were worth $4,230,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. America First Investment Advisors LLC acquired a new stake in Intel in the 2nd quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the 2nd quarter valued at approximately $27,000. Quest Partners LLC increased its holdings in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. acquired a new stake in Intel in the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position in shares of Intel in the second quarter worth $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on INTC shares. Barclays dropped their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus restated a “hold” rating and issued a $25.00 price target (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Mizuho boosted 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. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.12.

Insiders Place Their Bets

In other Intel 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 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. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.04% of the stock is currently owned by company insiders.

Intel Trading Down 1.7 %

NASDAQ INTC opened at $23.65 on Friday. The stock has a market capitalization of $102.00 billion, a P/E ratio of -6.36 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The firm has a 50-day moving average price of $23.43 and a 200 day moving average price of $25.97. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities research analysts expect that Intel Co. will post -0.87 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.