Rehmann Capital Advisory Group Trims Holdings in Intel Co. (NASDAQ:INTC)

Rehmann Capital Advisory Group cut its stake in Intel Co. (NASDAQ:INTC) by 29.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,746 shares of the chip maker’s stock after selling 6,717 shares during the period. Rehmann Capital Advisory Group’s holdings in Intel were worth $369,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in INTC. America First Investment Advisors LLC bought a new stake in shares of Intel in the 2nd quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the second quarter worth $27,000. Quest Partners LLC increased its stake 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. acquired a new stake in shares of Intel during the second quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel in the 2nd quarter worth about $32,000. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INTC shares. The Goldman Sachs Group lowered their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Daiwa America raised Intel to a “hold” rating in a report on Monday, August 26th. Mizuho raised their price target on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial boosted their target price on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $30.04.

Insider Transactions at Intel

In related 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 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 document filed with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by insiders.

Intel Stock Performance

NASDAQ INTC opened at $20.78 on Friday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The business’s fifty day moving average is $23.19 and its two-hundred day moving average is $25.33. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period last year, the business earned $0.28 earnings per share. The business’s revenue was down 6.3% on a year-over-year basis. On average, analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

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.