First Interstate Bank Buys 1,922 Shares of Intel Co. (NASDAQ:INTC)

First Interstate Bank grew its stake in shares of Intel Co. (NASDAQ:INTC) by 9.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,388 shares of the chip maker’s stock after acquiring an additional 1,922 shares during the period. First Interstate Bank’s holdings in Intel were worth $525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of INTC. America First Investment Advisors LLC bought a new stake in Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel during the 2nd quarter worth $27,000. Spartan Fund Management Inc. bought a new position in Intel in the second quarter valued at $31,000. Financial Connections Group Inc. purchased a new stake in Intel during the second quarter valued at about $32,000. Finally, Triad Wealth Partners LLC bought a new stake in Intel during the second quarter worth about $33,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Intel

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC traded up $1.68 during mid-day trading on Friday, reaching $23.20. The company’s stock had a trading volume of 173,471,115 shares, compared to its average volume of 59,380,906. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average price is $21.79 and its two-hundred day moving average price is $27.02. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The stock has a market cap of $99.20 billion, a P/E ratio of -6.24 and a beta of 1.03.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm posted ($0.05) EPS. On average, equities analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on INTC shares. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Tuesday. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $35.00 to $23.00 in a report on Friday, August 2nd. Truist Financial boosted their price objective on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $30.12.

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.