Fifth Third Wealth Advisors LLC Sells 9,167 Shares of Intel Co. (NASDAQ:INTC)

Fifth Third Wealth Advisors LLC decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 14.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,250 shares of the chip maker’s stock after selling 9,167 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Intel were worth $1,320,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on INTC shares. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Truist Financial raised their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Stifel Nicolaus restated a “hold” rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. UBS Group decreased their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Rosenblatt Securities reissued a “sell” rating and set a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.12.

Intel Price Performance

NASDAQ INTC opened at $24.20 on Wednesday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The firm has a market capitalization of $104.37 billion, a P/E ratio of -6.51 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. The company has a 50-day moving average price of $22.91 and a 200-day moving average price of $26.21.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) 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 business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the firm earned $0.28 EPS. The company’s revenue was down 6.3% on a year-over-year basis. Equities research analysts anticipate that Intel Co. will post -0.83 earnings per share for the current year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction 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 sale, the executive vice president now owns 273,258 shares in the company, 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. Insiders own 0.04% of the company’s stock.

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.