First Horizon Advisors Inc. Sells 10,782 Shares of Intel Co. (NASDAQ:INTC)

First Horizon Advisors Inc. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 14.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 64,989 shares of the chip maker’s stock after selling 10,782 shares during the quarter. First Horizon Advisors Inc.’s holdings in Intel were worth $1,525,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in shares of Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers lifted its stake in shares of Intel by 86.2% during the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Caxton Associates LP bought a new position in Intel in the 2nd quarter valued at $162,592,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Intel by 2,681.1% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 shares during the period. Finally, Swedbank AB bought a new stake in Intel during the 1st quarter valued at about $164,002,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. The Goldman Sachs Group reduced their price objective on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Barclays lowered their target price on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Robert W. Baird upped their price objective on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six research 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’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.12.

Intel Stock Performance

Shares of NASDAQ INTC opened at $24.01 on Thursday. The company has a market capitalization of $103.56 billion, a PE ratio of -6.45 and a beta of 1.03. 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 company’s fifty day moving average price is $23.00 and its 200 day moving average price is $26.20. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 earnings per share. On average, research analysts predict that Intel Co. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction 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 owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is owned by insiders.

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.