Intel Co. (NASDAQ:INTC) Shares Sold by Sax Wealth Advisors LLC

Sax Wealth Advisors LLC reduced its stake in Intel Co. (NASDAQ:INTC) by 7.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 12,227 shares of the chip maker’s stock after selling 1,027 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Intel were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in INTC. William B. Walkup & Associates Inc. purchased a new stake in Intel during the second quarter worth about $2,178,000. Geode Capital Management LLC grew its holdings in shares of Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC increased its stake in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after buying an additional 19,625 shares during the period. Principal Financial Group Inc. lifted its holdings in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after buying an additional 204,200 shares in the last quarter. Finally, Swiss National Bank boosted its position in Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $21.49 on Monday. 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 Co. has a fifty-two week low of $18.51 and a fifty-two week high of $50.30. The firm’s fifty day simple moving average is $21.55 and its 200-day simple moving average is $23.27. The stock has a market cap of $92.69 billion, a PE ratio of -5.78, a price-to-earnings-growth ratio of 8.53 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 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%. Intel’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. Analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on INTC shares. Mizuho reduced their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Truist Financial boosted their price objective on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Bank of America reiterated an “underperform” rating and set a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.88.

Intel Company 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.