Simmons Bank Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

Simmons Bank lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 5.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,463 shares of the chip maker’s stock after selling 2,981 shares during the quarter. Simmons Bank’s holdings in Intel were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in INTC. William B. Walkup & Associates Inc. purchased a new position in Intel during the second quarter valued at $2,178,000. Fortis Group Advisors LLC lifted its position in shares of Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after buying an additional 157,991 shares in the last quarter. Private Advisory Group LLC bought a new position in shares of Intel during the 3rd quarter valued at approximately $8,045,000. Tyler Stone Wealth Management increased its holdings in Intel by 105.4% in the 3rd quarter. Tyler Stone Wealth Management now owns 41,276 shares of the chip maker’s stock worth $968,000 after acquiring an additional 21,177 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in Intel by 1,110.8% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 49,522 shares of the chip maker’s stock worth $1,162,000 after acquiring an additional 45,432 shares during the period. Institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Susquehanna reduced their price objective on shares of Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Wedbush cut their target price on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, The Goldman Sachs Group lowered their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.12.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 completion of the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is owned by corporate insiders.

Intel Price Performance

Shares of Intel stock opened at $24.92 on Thursday. The stock has a market cap of $107.48 billion, a price-to-earnings ratio of -6.70 and a beta of 1.03. 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 50 day moving average price of $22.36 and a 200-day moving average price of $26.43. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

Intel (NASDAQ:INTC) last posted 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 firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Equities analysts expect that Intel Co. will post -0.83 EPS for the current year.

Intel Company Profile

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.