Intel Co. (NASDAQ:INTC) Stock Position Lowered by Commerce Bank

Commerce Bank trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 21.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 203,147 shares of the chip maker’s stock after selling 56,101 shares during the period. Commerce Bank’s holdings in Intel were worth $4,766,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. America First Investment Advisors LLC acquired a new stake in shares of Intel during the second quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel during the 2nd quarter valued at $27,000. Quest Partners LLC grew its holdings in shares of Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after acquiring an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. acquired a new position in shares of Intel in the second quarter worth $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Intel during the second quarter worth $32,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

Shares of INTC stock opened at $24.50 on Friday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a market capitalization of $105.67 billion, a P/E ratio of -6.59 and a beta of 1.03. The stock has a 50 day moving average of $23.19 and a two-hundred day moving average of $26.14. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its earnings results 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 firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.28 earnings per share. As a group, equities analysts expect that Intel Co. will post -0.83 EPS for the current year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the 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 of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on INTC shares. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Wedbush dropped their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a research report on Monday, August 26th. Finally, Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a 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 company. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and an average price target of $30.12.

About Intel

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.