Greenfield Savings Bank Trims Stake in Intel Co. (NASDAQ:INTC)

Greenfield Savings Bank decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,798 shares of the chip maker’s stock after selling 1,672 shares during the period. Greenfield Savings Bank’s holdings in Intel were worth $477,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTC. American Century Companies Inc. boosted its position in Intel by 26.9% during the 2nd quarter. American Century Companies Inc. now owns 1,925,120 shares of the chip maker’s stock valued at $59,621,000 after acquiring an additional 408,512 shares in the last quarter. Thoroughbred Financial Services LLC grew its stake in Intel by 16.0% in the second quarter. Thoroughbred Financial Services LLC now owns 18,112 shares of the chip maker’s stock valued at $560,000 after purchasing an additional 2,492 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in Intel in the second quarter worth about $99,000. Fairfield Financial Advisors LTD bought a new stake in shares of Intel in the 2nd quarter valued at about $35,000. Finally, Greenwich Wealth Management LLC raised its stake in shares of Intel by 2.4% during the 2nd quarter. Greenwich Wealth Management LLC now owns 64,155 shares of the chip maker’s stock worth $1,987,000 after acquiring an additional 1,527 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

Intel stock opened at $19.20 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The stock has a market capitalization of $82.81 billion, a P/E ratio of -5.16 and a beta of 1.07. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30. The company’s fifty day moving average price is $21.97 and its 200 day moving average price is $23.58.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s quarterly revenue was down 6.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on INTC shares. Stifel Nicolaus restated a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a research note on Friday, October 25th. The Goldman Sachs Group dropped their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Robert W. Baird upped their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average price target of $29.96.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.