Intel Co. (NASDAQ:INTC) Shares Sold by Alerus Financial NA

Alerus Financial NA cut its stake in shares of Intel Co. (NASDAQ:INTC) by 95.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,336 shares of the chip maker’s stock after selling 177,816 shares during the period. Alerus Financial NA’s holdings in Intel were worth $219,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. William B. Walkup & Associates Inc. purchased a new stake in Intel during the second quarter worth approximately $2,178,000. Swiss National Bank lifted its holdings in shares of Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after acquiring an additional 31,800 shares in the last quarter. Fortis Group Advisors LLC boosted its position in Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares during the period. Mizuho Securities Co. Ltd. increased its holdings in Intel by 2,910.4% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after purchasing an additional 27,940 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its stake in shares of Intel by 104.9% during the third quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock worth $1,427,000 after purchasing an additional 31,143 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC stock opened at $24.05 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $23.48 and a two-hundred day moving average of $25.85. The company has a market cap of $103.73 billion, a P/E ratio of -6.47 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. As a group, analysts anticipate that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was 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 of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Truist Financial raised their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a report on Friday, November 1st. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Northland Securities decreased their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $30.12.

Intel 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.