FORA Capital LLC Purchases New Holdings in Intel Co. (NASDAQ:INTC)

FORA Capital LLC acquired a new position in shares of Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 108,228 shares of the chip maker’s stock, valued at approximately $2,539,000.

Other hedge funds have also made changes to their positions in the company. Key Financial Inc grew its holdings in Intel by 4.1% during the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after acquiring an additional 340 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Intel by 1.4% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock valued at $767,000 after purchasing an additional 348 shares in the last quarter. Cypress Asset Management Inc. TX grew its stake in shares of Intel by 1.6% in the 1st quarter. Cypress Asset Management Inc. TX now owns 22,835 shares of the chip maker’s stock worth $1,015,000 after purchasing an additional 350 shares during the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Intel by 0.6% in the 2nd quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after purchasing an additional 381 shares in the last quarter. Finally, Alhambra Investment Management LLC lifted its stake in Intel by 5.9% during the second quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock valued at $217,000 after purchasing an additional 389 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on INTC shares. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Daiwa America upgraded Intel to a “hold” rating in a report on Monday, August 26th. TD Cowen raised Intel to a “hold” rating in a report on Monday, September 16th. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Mizuho boosted their price objective on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Six equities research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

NASDAQ INTC traded down $0.51 during midday trading on Wednesday, hitting $23.54. The company had a trading volume of 9,595,834 shares, compared to its average volume of 59,853,320. The firm has a fifty day simple moving average of $23.32 and a two-hundred day simple moving average of $26.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly 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 firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. On average, research analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.