Sassicaia Capital Advisers LLC Takes Position in Intel Co. (NASDAQ:INTC)

Sassicaia Capital Advisers LLC bought a new stake in Intel Co. (NASDAQ:INTC) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 20,000 shares of the chip maker’s stock, valued at approximately $469,000. Intel makes up approximately 1.4% of Sassicaia Capital Advisers LLC’s investment portfolio, making the stock its 10th biggest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. America First Investment Advisors LLC acquired a new position in Intel during the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel during the 2nd quarter worth approximately $27,000. Quest Partners LLC increased its position in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. acquired a new position in Intel during the 2nd quarter worth approximately $31,000. Finally, Financial Connections Group Inc. acquired a new position in Intel during the 2nd quarter worth approximately $32,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Trading Down 2.3 %

Shares of INTC stock opened at $21.96 on Thursday. The firm has a 50-day moving average of $23.47 and a 200-day moving average of $25.70. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. 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 results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 EPS. On average, equities research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’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 approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on INTC shares. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Robert W. Baird boosted their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Mizuho boosted their target price on shares of Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial boosted their target price on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Northland Securities reduced their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Six investment 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.com, Intel presently has an average rating of “Hold” and a consensus target price of $30.04.

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.