Shum Financial Group Inc. Acquires Shares of 9,132 Intel Co. (NASDAQ:INTC)

Shum Financial Group Inc. acquired a new stake in shares of Intel Co. (NASDAQ:INTC) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 9,132 shares of the chip maker’s stock, valued at approximately $213,000.

Other institutional investors have also added to or reduced their stakes in the company. America First Investment Advisors LLC acquired a new position in Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the second quarter worth $27,000. Quest Partners LLC increased its holdings in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. acquired a new position in shares of Intel during the second quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Intel in the second quarter worth $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTC. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Daiwa America raised shares of Intel to a “hold” rating in a research report on Monday, August 26th. Morgan Stanley cut their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, The Goldman Sachs Group cut their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Six 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. Based on data from MarketBeat.com, Intel presently has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Trading Down 2.1 %

Shares of NASDAQ INTC traded down $0.53 during trading hours on Tuesday, hitting $24.34. The company’s stock had a trading volume of 12,505,520 shares, compared to its average volume of 59,831,367. 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 stock has a market cap of $104.98 billion, a price-to-earnings ratio of -6.69 and a beta of 1.03. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The business has a 50-day simple moving average of $23.27 and a 200-day simple moving average of $26.05.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the business earned $0.28 earnings per share. The business’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts anticipate that Intel Co. will post -0.83 earnings per share 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.