Daiwa Securities Group Inc. Trims Position in Intel Co. (NASDAQ:INTC)

Daiwa Securities Group Inc. cut its position in Intel Co. (NASDAQ:INTC) by 16.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,214,358 shares of the chip maker’s stock after selling 239,152 shares during the period. Daiwa Securities Group Inc.’s holdings in Intel were worth $28,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of INTC. America First Investment Advisors LLC purchased a new stake in shares of Intel in the second quarter worth $25,000. Cyrus J. Lawrence LLC bought a new position in shares of Intel during the second quarter worth $27,000. Quest Partners LLC boosted its position 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 acquiring an additional 1,253 shares during the last quarter. Spartan Fund Management Inc. bought a new position in shares of Intel during the second quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel during the second quarter worth $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Up 0.2 %

INTC stock opened at $24.50 on Friday. The company has a market capitalization of $105.67 billion, a PE ratio of -6.59 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 firm’s 50-day moving average is $23.19 and its 200 day moving average is $26.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

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

Insider Buying and Selling at Intel

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 transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on INTC shares. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Truist Financial increased their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. UBS Group lowered their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Roth Mkm lowered their price objective on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Mizuho increased their price objective on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target 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.