Navellier & Associates Inc. Decreases Stake in Intel Co. (NASDAQ:INTC)

Navellier & Associates Inc. cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 18.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,494 shares of the chip maker’s stock after selling 3,684 shares during the quarter. Navellier & Associates Inc.’s holdings in Intel were worth $387,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. L & S Advisors Inc grew its position in shares of Intel by 6.1% in the third quarter. L & S Advisors Inc now owns 12,741 shares of the chip maker’s stock valued at $299,000 after purchasing an additional 737 shares in the last quarter. Pacer Advisors Inc. boosted its stake in Intel by 5.2% during the third quarter. Pacer Advisors Inc. now owns 603,456 shares of the chip maker’s stock worth $14,157,000 after buying an additional 29,652 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Intel by 12.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 8,095,962 shares of the chip maker’s stock worth $189,931,000 after buying an additional 910,345 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in Intel by 95.1% in the 3rd quarter. Thompson Siegel & Walmsley LLC now owns 26,076 shares of the chip maker’s stock valued at $612,000 after buying an additional 12,711 shares in the last quarter. Finally, John G Ullman & Associates Inc. increased its stake in shares of Intel by 14.6% in the 3rd quarter. John G Ullman & Associates Inc. now owns 429,770 shares of the chip maker’s stock worth $10,082,000 after acquiring an additional 54,889 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is owned by insiders.

Intel Trading Up 0.2 %

NASDAQ:INTC opened at $24.50 on Friday. The stock has a fifty day moving average price of $23.19 and a 200 day moving average price 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 Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The firm has a market cap of $105.67 billion, a PE ratio of -6.59 and a beta of 1.03.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on INTC shares. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Cantor Fitzgerald reduced their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Roth Mkm lowered their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Morgan Stanley cut their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Intel currently 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.