Shum Financial Group Inc. Makes New Investment in Intel Co. (NASDAQ:INTC)

Shum Financial Group Inc. acquired a new stake in shares of Intel Co. (NASDAQ:INTC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 9,132 shares of the chip maker’s stock, valued at approximately $213,000.

A number of other hedge funds have also recently modified their holdings of INTC. Silvercrest Asset Management Group LLC grew its position in shares of Intel by 3.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 303,347 shares of the chip maker’s stock valued at $13,399,000 after acquiring an additional 8,732 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Intel by 14.9% during the 1st quarter. Janus Henderson Group PLC now owns 473,056 shares of the chip maker’s stock valued at $20,889,000 after buying an additional 61,516 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of Intel by 9.8% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 125,498 shares of the chip maker’s stock valued at $5,543,000 after buying an additional 11,236 shares in the last quarter. Tidal Investments LLC lifted its stake in shares of Intel by 56.1% during the 1st quarter. Tidal Investments LLC now owns 255,407 shares of the chip maker’s stock valued at $11,278,000 after buying an additional 91,832 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new position in shares of Intel during the 1st quarter valued at $528,000. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

INTC has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $35.00 to $23.00 in a research note on Friday, August 2nd. Mizuho boosted their price target on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. The Goldman Sachs Group decreased their price target on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Finally, Robert W. Baird boosted their price target on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $30.12.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction 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 sale, the executive vice president now 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Down 2.1 %

NASDAQ:INTC traded down $0.53 during midday trading on Tuesday, reaching $24.34. 12,505,520 shares of the stock traded hands, compared to its average volume of 59,831,367. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The business has a 50-day moving average of $23.27 and a two-hundred day moving average of $26.05. 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 stock has a market capitalization of $104.98 billion, a PE ratio of -6.69 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its earnings results 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 for 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 was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 EPS. On average, equities analysts forecast that Intel Co. will post -0.83 earnings per share for the current fiscal year.

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.