Intel (NASDAQ:INTC) Stock Unloaded Rep. Mike Kelly

Representative Mike Kelly (R-Pennsylvania) recently sold shares of Intel Co. (NASDAQ:INTC). In a filing disclosed on December 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Intel stock on November 8th. The trade occurred in the Representative’s “VICTORIA KELLY TRUST ICA” account.

Representative Mike Kelly also recently made the following trade(s):

• Sold $15,001 – $50,000 in shares of Union Pacific (NYSE:UNP) on 11/8/2024.

Intel Stock Performance

Intel stock opened at $20.34 on Friday. The stock’s 50 day moving average price is $23.12 and its 200 day moving average price is $25.19. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. 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 issued its quarterly earnings data 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). The business had revenue of $13.30 billion for 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. As a group, sell-side analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Northland Securities reduced their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. The Goldman Sachs Group lowered their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Six 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 company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.04.

Institutional Investors Weigh In On Intel

A number of institutional investors and hedge funds have recently modified their holdings of the stock. America First Investment Advisors LLC purchased a new position in Intel in the 2nd quarter worth about $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the 2nd quarter worth approximately $27,000. Spartan Fund Management Inc. purchased a new position in Intel during the 2nd quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new stake in Intel during the 2nd quarter valued at $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Intel in the second quarter valued at $33,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is owned by insiders.

About Representative Kelly

Mike Kelly (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 16th Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2025. Kelly (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 16th Congressional District. He declared candidacy for the 2024 election. Prior to joining Congress, Kelly served on the Butler County council and the Butler area school board. At the start of the 116th Congress, Kelly was named the ranking member of the Subcommittee on Oversight of the House Committee on Ways and Means. He was described by the Pittsburgh Post-Gazette in January 2019 as “a fiscal conservative and Donald Trump loyalist.”

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.