Icon Wealth Advisors LLC Sells 42,442 Shares of Intel Co. (NASDAQ:INTC)

Icon Wealth Advisors LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 92.8% during the third quarter, Holdings Channel.com reports. The firm owned 3,275 shares of the chip maker’s stock after selling 42,442 shares during the period. Icon Wealth Advisors LLC’s holdings in Intel were worth $77,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in INTC. Lazard Asset Management LLC boosted its holdings in Intel by 5.0% during the 1st quarter. Lazard Asset Management LLC now owns 284,044 shares of the chip maker’s stock worth $12,544,000 after acquiring an additional 13,506 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in Intel by 3.0% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 303,347 shares of the chip maker’s stock worth $13,399,000 after purchasing an additional 8,732 shares in the last quarter. Waverly Advisors LLC grew its position in Intel by 16.9% in the 1st quarter. Waverly Advisors LLC now owns 73,714 shares of the chip maker’s stock worth $3,256,000 after purchasing an additional 10,659 shares in the last quarter. Janus Henderson Group PLC increased its stake in Intel by 14.9% in the 1st quarter. Janus Henderson Group PLC now owns 473,056 shares of the chip maker’s stock valued at $20,889,000 after buying an additional 61,516 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Intel by 9.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 125,498 shares of the chip maker’s stock worth $5,543,000 after buying an additional 11,236 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now 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 Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

Intel Trading Up 0.2 %

Intel stock opened at $24.50 on Monday. The business’s fifty day simple moving average is $23.19 and its two-hundred day simple moving average is $26.08. The company has a market capitalization of $105.67 billion, a price-to-earnings ratio of -6.59 and a beta of 1.03. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. 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 (NASDAQ:INTC) last posted its 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period last year, the firm posted $0.28 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts predict that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the topic of a number of recent analyst reports. Susquehanna dropped their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target 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. Truist Financial raised their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Cantor Fitzgerald dropped their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Barclays decreased their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.12.

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.