Spire Wealth Management Sells 9,529 Shares of Intel Co. (NASDAQ:INTC)

Spire Wealth Management cut its stake in shares of Intel Co. (NASDAQ:INTC) by 27.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,320 shares of the chip maker’s stock after selling 9,529 shares during the period. Spire Wealth Management’s holdings in Intel were worth $508,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Finley Financial LLC bought a new position in shares of Intel during the fourth quarter valued at about $25,000. Quest Partners LLC lifted its position in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares in the last quarter. West Financial Advisors LLC purchased a new position in shares of Intel in the 4th quarter worth approximately $31,000. Groupama Asset Managment grew its holdings in shares of Intel by 6.3% in the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after acquiring an additional 8,084 shares in the last quarter. Finally, Sawyer & Company Inc purchased a new stake in shares of Intel during the fourth quarter valued at approximately $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on INTC shares. Robert W. Baird upped their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Truist Financial reduced their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. The Goldman Sachs Group lowered their price objective 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. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Bank of America reaffirmed an “underperform” rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $26.60.

Intel Trading Up 1.9 %

Shares of INTC stock opened at $19.65 on Thursday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $46.63. The business’s fifty day moving average is $20.58 and its 200 day moving average is $22.14. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The company has a market capitalization of $84.75 billion, a PE ratio of -4.49, a price-to-earnings-growth ratio of 9.49 and a beta of 1.08.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, equities research analysts anticipate that Intel Co. will post 0.19 EPS for the current fiscal 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.