Raymond James Trust N.A. Reduces Position in Intel Co. (NASDAQ:INTC)

Raymond James Trust N.A. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 18.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 122,308 shares of the chip maker’s stock after selling 27,790 shares during the quarter. Raymond James Trust N.A.’s holdings in Intel were worth $2,869,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Primecap Management Co. CA increased its position in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after acquiring an additional 9,422,136 shares during the last quarter. Legal & General Group Plc increased its position in shares of Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after acquiring an additional 487,191 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after acquiring an additional 2,248,332 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Intel by 2.8% in the second quarter. Dimensional Fund Advisors LP now owns 24,512,863 shares of the chip maker’s stock worth $759,127,000 after purchasing an additional 656,583 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTC. Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Northland Securities lowered their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $30.12.

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 business has a 50 day simple moving average of $23.19 and a 200 day simple moving average of $26.14. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last released its earnings results 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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. Sell-side analysts anticipate that Intel Co. will post -0.83 earnings per share for the current year.

Intel 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.