Mutual Advisors LLC Sells 20,817 Shares of Intel Co. (NASDAQ:INTC)

Mutual Advisors LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 11.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 167,502 shares of the chip maker’s stock after selling 20,817 shares during the period. Mutual Advisors LLC’s holdings in Intel were worth $3,742,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in INTC. America First Investment Advisors LLC acquired a new stake in Intel in the second quarter valued at $25,000. Cyrus J. Lawrence LLC acquired a new stake in Intel in the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. bought a new position in Intel during the second quarter worth about $31,000. Financial Connections Group Inc. bought a new stake in Intel in the second quarter valued at approximately $32,000. Finally, Triad Wealth Partners LLC acquired a new stake in shares of Intel in the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Down 2.6 %

Shares of NASDAQ:INTC opened at $22.30 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a market capitalization of $94.93 billion, a PE ratio of 23.23 and a beta of 1.03. The company has a fifty day moving average of $21.71 and a 200-day moving average of $27.15.

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

Analyst Ratings Changes

A number of research firms recently weighed in on INTC. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Cantor Fitzgerald dropped their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Morgan Stanley cut their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $30.80.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.04% of the stock is owned by company insiders.

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.