Douglas Lane & Associates LLC Reduces Holdings in Intel Co. (NASDAQ:INTC)

Douglas Lane & Associates LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 18.2% during the fourth quarter, HoldingsChannel reports. The fund owned 27,030 shares of the chip maker’s stock after selling 6,023 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Intel were worth $542,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. America First Investment Advisors LLC bought a new position in Intel in the 2nd quarter valued at $25,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the second quarter valued at $27,000. Quest Partners LLC grew its holdings in shares of 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 purchasing an additional 1,253 shares during the last quarter. Groupama Asset Managment increased its stake in Intel by 6.3% in the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after buying an additional 8,084 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in Intel in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Truist Financial raised their price objective on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 target price on shares of Intel in a research report on Tuesday, October 29th. Stifel Nicolaus reissued a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.04.

Intel Trading Down 0.6 %

NASDAQ INTC opened at $19.88 on Thursday. The stock has a market cap of $85.74 billion, a P/E ratio of -5.34 and a beta of 1.07. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $50.30. The company has a fifty day simple moving average of $22.15 and a two-hundred day simple moving average of $23.86.

Intel (NASDAQ:INTC) last issued its quarterly 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). The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s revenue was down 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. On average, analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is owned by insiders.

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.