Southern Capital Advisors LLC reduced its holdings of Intel Co. (NASDAQ: INTC – Free report) by 52.5% in the first quarter, according to its most recent Form 13F filed with the Securities & Exchange Commission. The institutional investor held 6,246 shares of the chipmaker after selling 6,893 shares during the quarter. Southern Capital Advisors LLC’s holdings in Intel were worth $204,000 when it last filed with the SEC.
Other large investors have also changed their stake in the company. Lumature Wealth Partners LLC increased its stake in Intel shares by 146.7% during the first quarter. Lumature Wealth Partners LLC now owns 824 shares of the chipmaker worth $41,000 after purchasing an additional 490 shares during the period. Marshall & Sullivan Inc. WA bought a new stake in Intel stock in Q4 valued at around $26,000. Red Tortoise LLC bought a new position in Intel during Q4 worth $29,000. Antonetti Capital Management LLC increased its stake in Intel shares by 78.5% in the fourth quarter. Antonetti Capital Management LLC now owns 1,251 shares of the chipmaker worth $33,000 after buying an additional 550 shares last quarter. Finally, Phocas Financial Corp. bought a new position in Intel stock in the fourth quarter worth $33,000. Hedge funds and other institutional investors own 60.10% of the company’s shares.
Intel is trading down 1.1%
Shares of NASDAQ: INTC traded down $0.37 during Friday’s trading, hitting $33.50. 11,168,418 shares of the company were traded, against an average volume of 44,710,309. The company has a debt ratio of 0.49, a current ratio of 1.76 and a quick ratio of 1.29. The company’s 50-day simple moving average is $31.80 and its 200-day simple moving average is $29.95. Intel Co. has a 12-month low of $24.59 and a 12-month high of $40.73. The company has a market capitalization of $139.73 billion, a PE ratio of -49.72 and a beta of 0.87.
Intel (NASDAQ: INTC – Get a free report) last announced its results on Thursday, April 27. The chipmaker reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.12. Intel had a negative net margin of 5.06% and a positive return on equity of 3.06%. The company posted revenue of $11.72 billion in the quarter, versus a consensus estimate of $11.13 billion. During the same period last year, the company earned earnings per share of $0.87. Intel’s revenue fell 36.2% compared to the same quarter last year. On average, research analysts expect Intel Co. to post an EPS of -0.19 for the current year.
Insider Buying and Selling at Intel
In other Intel news, major shareholder Corp Intel sold 38,500,000 shares of the company in a trade dated Monday, June 12. The shares were sold at an average price of $40.84, for a total value of $1,572,340,000.00. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink. In other Intel news, major shareholder Corp Intel sold 38,500,000 shares in a deal that took place on Monday, June 12. The shares were sold at an average price of $40.84, for a total value of $1,572,340,000.00. The sale was disclosed in a filing with the SEC, which is available via this link. Also, CEO Patrick P. Gelsinger bought 8,200 shares in a trade dated Monday, May 1. The stock was purchased at an average price of $30.41 per share, with a total value of $249,362.00. Following the acquisition, the CEO now owns 138,265 shares of the company, valued at approximately $4,204,638.65. Disclosure of this purchase can be found here. 0.04% of the shares are held by insiders.
Analysts set new price targets
Several research analysts have weighed in on the company. Wells Fargo & Company raised its target price on Intel from $26.00 to $32.00 in a Friday, April 28 research report. Deutsche Bank Aktiengesellschaft raised its price target on Intel from $28.00 to $32.00 in a Thursday, March 30 report. JPMorgan Chase & Co. set a price target of $28.00 on Intel in a Thursday, March 30 research note. Wedbush downgraded Intel from an “underperforming” to a “neutral” rating and raised its price target for the company from $20.00 to $30.00 in a Friday, April 28 research report. . Finally, Credit Suisse Group set a target price of $25.00 on Intel in a research report on Thursday, March 30. Seven analysts gave the stock a sell rating, twenty gave the stock a hold rating and five gave the stock a buy rating. Based on MarketBeat data, Intel currently has an average rating of “Hold” and an average price target of $30.65.
Intel Profile
Intel Corporation designs, develops, manufactures, markets and sells computer and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services and Other segments. The Company offers platform products, such as central processing units and chipsets, as well as system-on-chip and multi-chip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.
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