Bangor Savings Bank Sells 1,836 Shares of Intel Co. (NASDAQ:INTC)

Bangor Savings Bank trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 17.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,766 shares of the chip maker’s stock after selling 1,836 shares during the period. Bangor Savings Bank’s holdings in Intel were worth $176,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Intel by 28.2% in 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 valued at $1,371,692,000 after acquiring an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp lifted its holdings in Intel by 27.2% in the 3rd 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 in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Intel by 224.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares during the period. State Street Corp grew its holdings in Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Finally, Caxton Associates LP bought a new stake in shares of Intel during the second quarter valued at approximately $162,592,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 0.7 %

Shares of INTC opened at $20.01 on Wednesday. The firm has a market capitalization of $86.30 billion, a price-to-earnings ratio of -5.38 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 1-year low of $18.51 and a 1-year high of $50.30. The company has a 50-day moving average of $22.20 and a 200 day moving average of $23.89.

Intel (NASDAQ:INTC) last announced 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 firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 EPS. On average, research analysts expect that Intel Co. will post -0.87 EPS for the current year.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America reaffirmed an “underperform” rating and set a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Truist Financial raised their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Mizuho raised their price target on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $30.04.

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.