Amalgamated Bank Sells 21,426 Shares of Intel Co. (NASDAQ:INTC)

Amalgamated Bank reduced its position in Intel Co. (NASDAQ:INTC) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 837,668 shares of the chip maker’s stock after selling 21,426 shares during the quarter. Amalgamated Bank’s holdings in Intel were worth $19,652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Guardian Capital Advisors LP grew its position in shares of Intel by 2.1% in the first quarter. Guardian Capital Advisors LP now owns 16,030 shares of the chip maker’s stock valued at $708,000 after purchasing an additional 328 shares in the last quarter. Richard C. Young & CO. LTD. grew its position in Intel by 0.9% during the first quarter. Richard C. Young & CO. LTD. now owns 37,489 shares of the chip maker’s stock worth $1,656,000 after buying an additional 338 shares in the last quarter. Key Financial Inc grew its position 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 buying an additional 340 shares in the last quarter. Proficio Capital Partners LLC grew its position in Intel by 3.9% during the first quarter. Proficio Capital Partners LLC now owns 9,067 shares of the chip maker’s stock worth $400,000 after buying an additional 343 shares in the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co grew its position in Intel by 1.4% during the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after buying an additional 348 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. The Goldman Sachs Group cut their price target 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. TD Cowen raised Intel to a “hold” rating in a research note on Monday, September 16th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday. Finally, Barclays lowered their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.12.

Intel Stock Performance

Shares of Intel stock opened at $22.52 on Tuesday. The stock has a market cap of $96.30 billion, a price-to-earnings ratio of -6.05 and a beta of 1.03. The firm’s 50-day moving average is $21.84 and its 200 day moving average is $26.81. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last issued its 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 return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period last year, the firm posted $0.28 EPS. Intel’s quarterly revenue was down 6.3% compared to the same quarter last year. Sell-side analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

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.