FRG Family Wealth Advisors LLC Sells 8,129 Shares of Intel Co. (NASDAQ:INTC)

FRG Family Wealth Advisors LLC decreased its position in Intel Co. (NASDAQ:INTC) by 45.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,662 shares of the chip maker’s stock after selling 8,129 shares during the quarter. FRG Family Wealth Advisors LLC’s holdings in Intel were worth $227,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its position in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares during the period. Geode Capital Management LLC grew its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after buying an additional 4,103,553 shares during the period. Primecap Management Co. CA grew its position in Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares during the period. Finally, Van ECK Associates Corp grew its position in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares during the period. Institutional investors own 64.53% of the company’s stock.

Intel Trading Down 0.5 %

Shares of INTC opened at $20.81 on Tuesday. The firm’s 50 day simple moving average is $23.29 and its 200 day simple moving average is $25.44. The company has a market capitalization of $89.75 billion, a P/E ratio of -5.59 and a beta of 1.05. 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 Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate 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 return on equity of 1.71% and a negative net margin of 29.42%. The company’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. Sell-side analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

INTC has been the subject of several research reports. Robert W. Baird increased their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Truist Financial increased their price target 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. TD Cowen upgraded shares of Intel to a “hold” rating in a research report on Monday, September 16th. Northland Securities cut their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Bank of America reiterated an “underperform” rating and set a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $30.04.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction 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 sale, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.04% of the company’s stock.

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.