Accredited Investors Inc. Trims Holdings in Intel Co. (NASDAQ:INTC)

Accredited Investors Inc. lowered its holdings in Intel Co. (NASDAQ:INTC) by 5.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,750 shares of the chip maker’s stock after selling 771 shares during the quarter. Accredited Investors Inc.’s holdings in Intel were worth $346,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. William B. Walkup & Associates Inc. bought a new stake in Intel in the second quarter valued at $2,178,000. Mizuho Securities Co. Ltd. boosted its stake in shares of Intel by 2,910.4% during the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after purchasing an additional 27,940 shares in the last quarter. Fortis Group Advisors LLC increased its position in shares of Intel by 1,052.9% during the third quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after buying an additional 157,991 shares during the period. Private Advisory Group LLC bought a new position in Intel in the third quarter worth about $8,045,000. Finally, Tyler Stone Wealth Management lifted its holdings in Intel by 105.4% in the third quarter. Tyler Stone Wealth Management now owns 41,276 shares of the chip maker’s stock worth $968,000 after buying an additional 21,177 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Performance

Shares of INTC opened at $24.35 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The business has a fifty day moving average of $22.69 and a 200 day moving average of $26.33.

Intel (NASDAQ:INTC) last released its quarterly earnings results 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). The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 earnings per share. As a group, sell-side analysts anticipate that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction 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 company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on INTC. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. The Goldman Sachs Group decreased their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $35.00 to $23.00 in a report on Friday, August 2nd. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Barclays dropped their price objective on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $30.12.

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.