Red Door Wealth Management LLC Has $2.02 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Red Door Wealth Management LLC lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 26.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 100,926 shares of the chip maker’s stock after selling 36,881 shares during the period. Red Door Wealth Management LLC’s holdings in Intel were worth $2,024,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of INTC. Assenagon Asset Management S.A. increased its holdings in shares of Intel by 264.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after buying an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intel by 28.2% during 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 acquiring an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp increased its holdings in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Intel by 224.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Finally, State Street Corp raised its holdings in Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s 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 transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was 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 1.3 %

Intel stock opened at $21.57 on Friday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $50.30. 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 firm’s 50-day simple moving average is $21.37 and its 200 day simple moving average is $23.12. The stock has a market cap of $93.03 billion, a PE ratio of -5.80, a price-to-earnings-growth ratio of 9.59 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced 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 during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel’s quarterly revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. Research analysts predict that Intel Co. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on INTC. Deutsche Bank Aktiengesellschaft cut their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Northland Securities lowered their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a report on Friday, October 25th. UBS Group dropped their price objective on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday. Finally, HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday. Five analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $28.81.

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.