Linscomb Wealth Inc. Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Linscomb Wealth Inc. trimmed its position in Intel Co. (NASDAQ:INTC) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,669 shares of the chip maker’s stock after selling 1,267 shares during the period. Linscomb Wealth Inc.’s holdings in Intel were worth $485,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Capital International Investors raised its holdings in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after acquiring an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp increased its stake in Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. Davis Selected Advisers lifted its position in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after buying an additional 5,851,098 shares during the period. Caxton Associates LP acquired a new stake in Intel in the 2nd quarter worth about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Intel by 2,681.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after buying an additional 4,272,395 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Robert W. Baird raised their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Tuesday, October 29th. Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. StockNews.com cut Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research note 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 MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.12.

Intel Stock Down 2.7 %

Shares of Intel stock opened at $24.35 on Friday. The business has a 50-day moving average price of $22.69 and a 200 day moving average price of $26.36. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The firm has a market cap of $105.02 billion, a P/E ratio of -6.55 and a beta of 1.03. 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 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 firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the firm posted $0.28 earnings per share. Intel’s revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts forecast that Intel Co. will post -0.83 earnings per share 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.