Stock Yards Bank & Trust Co. Sells 17,314 Shares of Intel Co. (NASDAQ:INTC)

Stock Yards Bank & Trust Co. decreased its position in Intel Co. (NASDAQ:INTC) by 18.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,978 shares of the chip maker’s stock after selling 17,314 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Intel were worth $1,759,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Van ECK Associates Corp increased its position in shares of Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after acquiring an additional 13,035,566 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after purchasing an additional 12,865,308 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Davis Selected Advisers raised its stake 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 valued at $391,533,000 after purchasing an additional 5,851,098 shares during the period. Finally, State Street Corp lifted its holdings in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In other 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 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 $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on INTC shares. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. Truist Financial raised their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. The Goldman Sachs Group lowered their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Benchmark restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Bank of America reiterated an “underperform” rating and issued a $21.00 price target on shares of Intel in a research note on Tuesday, December 3rd. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.04.

Intel Price Performance

INTC stock opened at $20.78 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company has a 50 day simple moving average of $23.19 and a 200 day simple moving average of $25.33. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28.

Intel (NASDAQ:INTC) last posted 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 business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. On average, analysts anticipate that Intel Co. will post -0.87 EPS 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.