Canandaigua National Bank & Trust Co. Sells 31,927 Shares of Intel Co. (NASDAQ:INTC)

Canandaigua National Bank & Trust Co. decreased its holdings in Intel Co. (NASDAQ:INTC) by 43.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,377 shares of the chip maker’s stock after selling 31,927 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Intel were worth $850,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Davis Selected Advisers lifted its position in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares during the period. Finally, State Street Corp grew its stake in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Bank of America reissued an “underperform” rating and set a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.04.

Intel Stock Down 3.4 %

Shares of NASDAQ:INTC opened at $19.87 on Tuesday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The business’s 50-day moving average is $22.25 and its 200-day moving average is $23.97. The company has a market capitalization of $85.70 billion, a price-to-earnings ratio of -5.34 and a beta of 1.07.

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

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s 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 transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.04% of the company’s stock.

Intel 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.