Kovack Advisors Inc. Cuts Stake in Intel Co. (NASDAQ:INTC)

Kovack Advisors Inc. lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 36.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,674 shares of the chip maker’s stock after selling 29,158 shares during the period. Kovack Advisors Inc.’s holdings in Intel were worth $1,189,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. William B. Walkup & Associates Inc. purchased a new position in shares of Intel in the second quarter worth $2,178,000. Fortis Group Advisors LLC raised its stake in Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after acquiring an additional 157,991 shares during the last quarter. Private Advisory Group LLC acquired a new stake in Intel during the 3rd quarter worth about $8,045,000. Tyler Stone Wealth Management grew its stake in Intel by 105.4% during the 3rd quarter. Tyler Stone Wealth Management now owns 41,276 shares of the chip maker’s stock valued at $968,000 after purchasing an additional 21,177 shares during the last quarter. Finally, Catalyst Capital Advisors LLC increased its holdings in shares of Intel by 1,110.8% in the third quarter. Catalyst Capital Advisors LLC now owns 49,522 shares of the chip maker’s stock valued at $1,162,000 after purchasing an additional 45,432 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on INTC shares. Argus downgraded Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Truist Financial upped their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Daiwa America raised shares of Intel to a “hold” rating in a report on Monday, August 26th. Finally, Rosenblatt Securities reiterated 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.12.

Intel Stock Performance

NASDAQ INTC opened at $24.92 on Thursday. 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 Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The company has a market cap of $107.48 billion, a PE ratio of -6.70 and a beta of 1.03. The stock’s 50 day simple moving average is $22.36 and its 200-day simple moving average is $26.43.

Intel (NASDAQ:INTC) last announced 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). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that Intel Co. will post -0.83 EPS for the current fiscal 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.