Synovus Financial Corp Has $5.15 Million Stock Position in Intel Co. (NASDAQ:INTC)

Synovus Financial Corp lowered its position in Intel Co. (NASDAQ:INTC) by 40.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 219,566 shares of the chip maker’s stock after selling 146,211 shares during the period. Synovus Financial Corp’s holdings in Intel were worth $5,151,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Van ECK Associates Corp increased its holdings in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Davis Selected Advisers raised its holdings in Intel by 86.2% during the 2nd 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. Finally, State Street Corp lifted its stake in Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Down 2.1 %

INTC stock opened at $20.34 on Friday. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The business’s 50 day simple moving average is $23.12 and its 200 day simple moving average is $25.23. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $87.73 billion, a PE ratio of -5.47 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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 company had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. As a group, research analysts anticipate that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling at Intel

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 transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on INTC shares. Northland Securities lowered their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Robert W. Baird lifted their price target on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. TD Cowen upgraded Intel to a “hold” rating in a report on Monday, September 16th. Finally, The Goldman Sachs Group decreased their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Six research 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’s stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average target price of $30.04.

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.