Brown Brothers Harriman & Co. Sells 47,629 Shares of Intel Co. (NASDAQ:INTC)

Brown Brothers Harriman & Co. trimmed its position in Intel Co. (NASDAQ:INTC) by 49.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,461 shares of the chip maker’s stock after selling 47,629 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Intel were worth $1,137,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INTC. America First Investment Advisors LLC purchased a new stake in shares of Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the second quarter valued at $27,000. Quest Partners LLC lifted its position in Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. bought a new position in Intel during the second quarter valued at $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Intel in the 2nd quarter worth $32,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on INTC. Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $35.00 to $23.00 in a report on Friday, August 2nd. UBS Group cut their target price on Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Finally, Cantor Fitzgerald reduced 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. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $30.12.

Intel Stock Down 3.3 %

Shares of NASDAQ INTC opened at $24.05 on Wednesday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The stock’s fifty day simple moving average is $23.32 and its two-hundred day simple moving average is $26.00. The stock has a market capitalization of $103.73 billion, a PE ratio of -6.47 and a beta of 1.03. 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) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations 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 for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 EPS. As a group, analysts expect that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by company insiders.

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.