Intel Co. (NASDAQ:INTC) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its position in Intel Co. (NASDAQ:INTC) by 63.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 179,921 shares of the chip maker’s stock after selling 308,110 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Intel were worth $4,221,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Orion Portfolio Solutions LLC lifted its position in shares of Intel by 1.9% in the first quarter. Orion Portfolio Solutions LLC now owns 100,220 shares of the chip maker’s stock valued at $4,427,000 after acquiring an additional 1,900 shares in the last quarter. Intech Investment Management LLC lifted its position in Intel by 22.2% during the first quarter. Intech Investment Management LLC now owns 132,031 shares of the chip maker’s stock worth $5,832,000 after buying an additional 23,992 shares during the period. Spirepoint Private Client LLC purchased a new position in Intel during the first quarter worth about $355,000. TIAA Trust National Association lifted its position in Intel by 3.6% during the first quarter. TIAA Trust National Association now owns 251,066 shares of the chip maker’s stock worth $11,090,000 after buying an additional 8,809 shares during the period. Finally, Patten & Patten Inc. TN lifted its position in Intel by 9.3% during the first quarter. Patten & Patten Inc. TN now owns 123,276 shares of the chip maker’s stock worth $5,445,000 after buying an additional 10,520 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Daiwa America upgraded Intel to a “hold” rating in a research report on Monday, August 26th. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Stifel Nicolaus restated a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Finally, Mizuho upped their price target on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.12.

Insiders Place Their Bets

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 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 owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Intel Trading Down 2.7 %

NASDAQ:INTC opened at $24.35 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The business’s 50 day moving average is $22.58 and its two-hundred day moving average is $26.41. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The company has a market cap of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS 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 firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the prior year, the business earned $0.28 EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts predict that Intel Co. will post -0.83 EPS for the current 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.